304.13-091 License for advisory organization, statistical agent, or form provider -Refusal to supply services -- Application for license -- Fees.
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No advisory organization, statistical agent, or form provider shall provide any
otherwise permitted service, and no insurer shall utilize the services unless the
organization has obtained a license pursuant to subsection (3) of this section.
No advisory organization, statistical agent, or form provider shall refuse to supply
any services for which it is licensed in Kentucky to any insurer authorized to do
business in Kentucky and offering to pay the fair and usual compensation for the
services.
An advisory organization, statistical agent, or form provider applying for a license
shall include with its application:
(a) A copy of its constitution, charter, articles of organization, agreement,
association or incorporation, bylaws, plan of operation, and any other rules or
regulations governing the conduct of its business;
(b) A list of its members, subscribers, and customers;
(c) The name and address of one (1) or more residents of Kentucky upon whom
notices, process affecting it, or orders of the commissioner may be served;
(d) A statement showing its technical qualifications for acting in the capacity for
which it seeks a license;
(e) A biography of the ownership and management of the organization; and
(f) Any other relevant information and documents that the commissioner may
require.
Every organization which has applied for a license shall notify the commissioner of
every material change in the facts or in the documents on which its application was
based. Any amendment to a document filed under this section shall be filed at least
thirty (30) days before it becomes effective.
If the commissioner finds that the applicant and the natural persons through whom
it acts are competent, trustworthy, and technically qualified to provide the services
proposed, and that all requirements of the law are met, he or she shall issue a license
specifying the authorized activity of the applicant. The commissioner shall not issue
a license if the proposed activity would tend to create a monopoly or to substantially
lessen the competition in any market. At the request of the licensee, licenses issued
under this section may be renewed on an annual basis.
Licenses issued pursuant to this section shall remain in effect for one (1) year
unless:
(a) The licensee fails to pay fees required by law for the continuance or renewal
of its license;
(b) The licensee withdraws from the state; or
(c) The license is suspended or revoked.
The commissioner may at any time, after a hearing to be conducted in accordance
with the provisions of this chapter and KRS 304.2-310, revoke or suspend the
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license of an advisory organization, statistical agent, or form provider which does
not comply with the requirements and standards of this chapter.
The commissioner shall by administrative regulation establish a written summary of
information that shall be included in an application for licenses issued under this
section.
Advisory organizations wishing to operate as statistical agents or form providers
may be so authorized under their license as an advisory organization. A separate
license is not required.
Each advisory organization, statistical agent, and form provider shall pay fees as
required by KRS 304.4-010 for the application, continuance, or renewal of its
license.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1125, effective July 15, 2010. -Repealed and reenacted 2000 Ky. Acts ch. 380, sec. 6, effective July 14, 2000. -Created 1982 Ky. Acts ch. 278, sec. 9, effective July 15, 1982.
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