2013 Kentucky Revised Statutes
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367.940 License as agent required -- Fee -- Service charge -- Annual report to
Attorney General -- Report not available to general public.
Every person, firm, partnership, association, or corporation shall obtain an
agent license from the Attorney General at least thirty (30) days prior to offering
for sale any preneed burial contract or accepting any moneys on preneed
burial contracts. An application for license shall contain at least the following:
The full name and address (both residence and place of business) of the
applicant, and every member, officer, and director thereof if the applicant is a
firm, partnership, association, or corporation. Any license issued pursuant to
the application shall be valid only at the address stated in the application for
the applicant or at a new address approved by the Attorney General.
Upon receipt of the application and payment of a license fee of fifty dollars
($50), the Attorney General shall issue a license unless he determines that the
applicant has made false statements or representations in the application, or is
insolvent, or has conducted, or is about to conduct his business in a fraudulent
manner, or is not duly authorized to transact business in this state.
Any person selling a preneed funeral service contract shall collect from each
purchaser a service charge of five dollars ($5) made payable to the office of the
Attorney General, and all of which fees so collected shall be remitted by the
person collecting same to the Attorney General at least once each month, and
such funds shall be used by the Attorney General in administering KRS
367.932 to 367.974 and 367.991.
Every licensee shall file an annual report on a form provided by the Attorney
General containing information as the Attorney General may require, but at
least the following: an itemized list of all preneed burial contracts sold within
the last twelve (12) months, the moneys collected on said contracts, the total
amount deposited in the preneed funeral trust fund account, and the location
and account numbers of said trust funds. A ten dollar ($10) fee shall be paid to
the office of the Attorney General by each licensee filing an annual report.
Every such report shall be verified by the agent and shall be attested to by the
accountant, auditor, or other person preparing the same.
Such reports shall not be available to the general public and shall be used only
for the lawful purpose of the Attorney General's office.
Effective:July 14, 1992
History: Amended 1992 Ky. Acts ch. 305, sec. 1, effective July 14, 1992. -Repealed, reenacted, and amended as KRS 367.940, 1984 Ky. Acts ch. 116,
sec. 5, effective July 13, 1984. -- Created 1966 Ky. Acts ch. 12, sec. 5.
Formerly codified as KRS 316.350.
CHAPTER 367 - CONSUMER PROTECTION
367.940 License as agent required -- Fee -- Service charge -- Annual report to Attorney General -- Report not available to general public.
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