806 KAR 3:110.
RELATES TO: KRS
AUTHORITY: KRS 304.2-110
FUNCTION, AND CONFORMITY: KRS 304.3-070(1)(b) mandates that no insurer be
authorized to transact a kind of insurance in this state unless duly authorized
or qualified to transact a specific insurance in the state or county of its
domicile. The function of this administrative regulation is to clarify a
special circumstance to which such statute would not be applicable.
Section 1. KRS
304.3-070(1)(b) is not applicable where the insurer requesting the authority is
unable to write a particular kind of insurance in the state of its domicile
because that kind of insurance is written there by a governmental monopoly.
(I-3.12; 1 Ky.R. 857; eff. 5-14-75.)