304.14-230 Delivery of policy.
(1)
(2)
Subject to the insurer's requirements as to payment of premium, every policy shall
be mailed or otherwise delivered to the insured or to the person entitled thereto
within a reasonable period of time after its issuance, except where a condition
required by the insurer has not been met by the insured. By agreement between the
insurer and the insured or the person entitled to receive the policy, the policy may
be delivered electronically.
In the event the original policy is delivered or is so required to be delivered to or for
deposit with any vendor, mortgagee, or pledgee of any motor vehicle or aircraft, and
in which policy any interest of the vendee, mortgagor, or pledgor in or with
reference to such vehicle or aircraft is insured, a duplicate of such policy, or
memorandum thereof setting forth the name and address of the insurer, type of
coverage, limit of liability, premiums for the respective coverages, and duration of
the policy, shall be delivered by the vendor, mortgagee, or pledgee to each such
vendee, mortgagor, or pledgor named in the policy or coming within the group of
persons designated in the policy to be so included. If the policy does not provide
coverage of legal liability for injury to persons or damage to the property of third
parties, a statement of such fact shall be printed, written, or stamped conspicuously
on the face of such duplicate policy or memorandum. This subsection does not
apply to inland marine floater policies.
Effective: June 24, 2003
History: Amended 2003 Ky. Acts ch. 85, sec. 1, effective June 24, 2003. -- Created
1970 Ky. Acts ch. 301, subtit. 14, sec. 23, effective June 18, 1970.
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