2021 Kentucky Revised Statutes Chapter 304 - Insurance code Subtitle 304.9 - Agents, Consultants, Solicitors and Adjusters 304.9-467 Notification of surrender or termination of license -- Report of administrative action -- Notification of service of complaint or indictment -- Documentation of resolution.
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304.9-467
Notification of surrender or termination of license -- Report of
administrative action -- Notification of service of complaint or indictment -Documentation of resolution.
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(3)
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An individual or business entity holding a license issued under this subtitle or
holding a license as a surplus lines broker, life settlement broker, or life settlement
provider shall notify the commissioner in writing immediately if the licensee's
license to conduct insurance, securities, real estate, auctioneer, investment,
financial, or financial planning business of any kind in this state or elsewhere is
surrendered or terminated under threat of disciplinary action, refused, suspended,
revoked, or renewal of continuance is denied.
A licensee shall report to the commissioner any administrative action taken against
the licensee in another jurisdiction or by another governmental agency in Kentucky
within thirty (30) days of the final disposition of the matter. This report shall
include:
(a) A written statement identifying the type of license and explaining the
circumstances of each incident;
(b) A copy of the notice of hearing or other document that states the charges and
allegations; and
(c) A copy of the official document which demonstrates the resolution of the
charges or any final judgment.
Within thirty (30) days of service upon the licensee of any criminal complaint,
information, or indictment in any jurisdiction, the licensee shall submit to the
commissioner the following:
(a) A written statement explaining the circumstances of each incident;
(b) A copy of the charging document; and
(c) A copy of the official document which demonstrates the resolution of the
charges or any final judgment.
If the charges alleged in the criminal complaint, information, or indictment have not
been finally resolved within the thirty (30) day period following service of the
criminal complaint, information, or indictment, the licensee shall, within thirty (30)
days following the resolution of the charges, submit to the commissioner a copy of
the official document which demonstrates the resolution of the charges or any final
judgment.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1078, effective July 15, 2010. -Amended 2008 Ky. Acts ch. 32, sec. 20, effective July 15, 2008. -- Created 2002 Ky.
Acts ch. 273, sec. 37, effective July 15, 2002.
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