The commissioner is hereby granted authority to adopt administrative regulations, up to the standards prescribed by the National Association of Insurance Commissioners, covering requirements for additional capital and surplus based on the kind, type, volume, and nature of insurance business transacted, if and when any regulations are promulgated and adopted by the National Association of Insurance Commissioners as its model regulation on the subject and as a requirement for departmental certification by the association.
KRS 304.3-125
Authority for commissioner to require additional capital and surplus
Known as the Controlling Agents Act
The act spans §§ 304.3-010 to 304.3-768 (79 sections).
Effective: July 15, 2010 History: Amended 2010 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.