Kentucky Administrative Regulations
Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE
Chapter 30 - Insurance Premium Finance Companies
Section 806 KAR 30:010 - License procedure
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 304.3-230, 304.30-030
NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.30-070 authorizes the commissioner to make reasonable administrative regulations to effectuate subtitle 30 of the Kentucky Insurance Code and to regulate the manner in which licensed insurance premium finance companies conduct their business. This administrative regulation sets forth license procedures.
Section 1. Application for Original or Renewal License. Each application for an original or renewal license as an insurance premium finance company shall be made on the Application for License as an Insurance Premium Finance Company form. It shall be accompanied by all required documents and the license fee provided by 806 KAR 4:010 which shall not be prorated. Each application for renewal of a license as an insurance premium finance company shall be made on or before May 1 of each year and shall be accompanied by the renewal fee provided by 806 KAR 4:010.
Section 2. Biographical Questionnaire.
Section 3. Consent to Jurisdiction and Service of Process. Each applicant for a license and each person required to file the biographical questionnaire shall be deemed to have appointed the Secretary of State as its attorney to receive service of all legal process issued against it in this state upon causes of action arising within this state. Nothing contained herein shall preclude service by any other authorized method. Service upon the Secretary of State shall be made in the same manner as is provided under KRS 304.3-230 for service of process upon authorized foreign or alien insurers.
Section 4. Changes in Condition of Licensee.
Section 5. Incorporation by Reference.
STATUTORY AUTHORITY: KRS 304.30-070, 304.4-010