2006 Kentucky Revised Statutes - .040   Qualifications of licensee.  (Effective until October 1, 2006)

366.040 Qualifications of licensee. (Effective until October 1, 2006) To qualify for a license hereunder an applicant shall meet the following requirements: (1)  The applicant shall have a net worth of at least one hundred thousand dollars ($100,000) computed according to generally accepted accounting principles. (2)  The financial responsibility, financial condition, and business experience, and character and general fitness of the applicant shall be such as reasonably to warrant the belief that applicant's business will be conducted honestly, carefully and efficiently. To the extent deemed advisable by the commissioner, the commissioner may investigate and consider the qualifications of officers and directors of an applicant in determining whether this qualification has been met. History: Repealed 2006 Ky. Acts ch. 247, sec. 36, effective October 1, 2006. -- Created 1966 Ky. Acts ch. 226, sec. 5.