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304.9-450 Procedure following suspension, revocation, nonrenewal, or denial
of license.
(1)
(2)
(3)
(4)
Upon suspension or revocation of any license the commissioner shall notify the
licensee either in person or by mail addressed to the licensee at his or her
address last of record with the commissioner. Notice by mail shall be deemed
effectuated when so mailed. The commissioner shall give like notice to the
insurer represented by the agent, in the case of an agent's license.
The commissioner shall not again issue a license under this code to or as to
any individual or business entity whose license has been revoked, until after
expiration of one (1) year and thereafter not until the individual or business
entity again qualifies in accordance with the applicable provisions of this code.
An individual or business entity whose license has been revoked twice shall not
again be eligible for any license under this code.
If the license of a business entity is suspended or revoked, no member, officer,
or director of the business entity shall be licensed or be designated in or as to
any license to exercise the powers thereof during the period of the suspension
or revocation, unless the commissioner determines upon substantial evidence
that the member, officer, or director was not personally at fault and did not
acquiesce in the matter on account of which the license was suspended or
revoked.
In the event that the action by the commissioner is to nonrenew or to deny an
application for a license, the commissioner shall notify the applicant or licensee
and advise, in writing, the applicant or licensee of the reason for the denial or
nonrenewal of the applicant's or licensee's license. The applicant or licensee
may make written demand upon the commissioner in accordance with KRS
304.2-310.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1075, effective July 15, 2010. -Amended 2000 Ky. Acts ch. 393, sec. 35, effective July 14, 2000. -- Created
1970 Ky. Acts ch. 301, subtit. 9, sec. 45, effective June 18, 1970.
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