That portion of all premiums or moneys which an insurance producer collects from an insured and which is to be paid to an insurer, its agents, its managing general agents or his or her principal because of the assumption of liability through the issuance of policies or contracts for insurance, shall be held by the insurance producer in a fiduciary capacity and shall not be misappropriated or converted to his or her own use or illegally withheld by the insurance producer.
KRS 304.9-400
Reporting and accounting for premiums
Known as the Reinsurance Intermediary Act
The act spans §§ 304.9-010 to 304.9-784 (110 sections).
Applied in 4 court decisions — leading case Riden v. Sigler (In Re Sigler) (1996)
Most recently applied in Commonwealth v. Perry (April 2007)
Effective: July 15, 2002 History: Amended 2002 Ky
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.