806 Kar 3:110. Authorization

Link to law: http://www.lrc.ky.gov/kar/806/003/110.htm
Published: 2015

      806 KAR 3:110.

Authorization.

 

      RELATES TO: KRS

304.3-070

      STATUTORY

AUTHORITY: KRS 304.2-110

      NECESSITY,

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.)
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