(1) The commissioner may suspend the license of any advisory organization or insurer which fails to comply with an order of the commissioner within the time limited by the order, or any extension thereof which the commissioner may grant. The commissioner shall not suspend the license of any advisory organization or insurer for failure to comply with an order until the time prescribed for an appeal therefrom has expired or if an appeal has been taken, until the order has been affirmed. The commissioner may modify or rescind a suspension at any time.
(2) No penalty shall be imposed and no license shall be suspended or revoked except upon a final order of the commissioner, stating his or her findings made after a hearing conducted in accordance with KRS Chapter 13B.

Terms Used In Kentucky Statutes 304.13-320

  • advisory organization: is a ny entity, including its affiliates or subsidiaries, which either has two (2) or more member insurers or is controlled either directly or indirectly by two (2) or more insurers and which assists insurers in ratemaking related activities. See Kentucky Statutes 304.13-011
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.

Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1137, effective July 15, 2010. — Amended 1998 Ky. Acts ch. 483, sec. 15, effective July 15, 1998. — Amended 1996
Ky. Acts ch. 318, sec. 235, effective July 15, 1996. — Amended 1982 Ky. Acts ch.
320, sec. 22, effective July 15, 1982. — Created 1970 Ky. Acts ch. 301, subtit. 13, sec. 32, effective June 18, 1970.

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