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304.2-080 Prohibited interest, rewards.
(1)
(2)
(3)
The commissioner or any deputy, examiner, actuary, assistant or employee of
the department, shall not be connected with the management of, or be
financially interested, directly or indirectly, in any insurer, insurance agency or
broker, or insurance transaction except as policyholder or claimant under a
policy; except, that as to matters wherein a conflict of interest does not exist on
the part of any such individual, the commissioner may employ or retain from
time to time insurance actuaries, examiners, accountants, attorneys, or other
technicians who are independently practicing their profession even though from
time to time similarly employed or retained by insurers or others.
No person shall directly or indirectly give or pay to the commissioner or any
deputy, examiner, actuary, assistant, employee or technician retained by the
department; and the commissioner, or any deputy, examiner, actuary,
assistant, employee or technician retained by the department, shall not directly
or indirectly receive or accept any fee, compensation, loan, gift or other thing of
value in addition to the compensation and expense allowance provided by law,
or by contract with the commissioner, for any service rendered or to be
rendered, as such commissioner, deputy, examiner, actuary, assistant,
employee or technician, or in connection therewith.
Subsection (1) of this section shall not be deemed to prohibit receipt by any
such person of commissions or retirement benefits to which entitled by reason
of services performed prior to becoming commissioner or prior to employment
by the commissioner.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 922, effective July 15, 2010. -Amended 2004 Ky. Acts ch. 24, sec. 2, effective July 13, 2004. -- Created 1970
Ky. Acts ch. 301, subtit. 2, sec. 8, effective June 18, 1970.
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