The commissioner may revoke the certificate of authority of any insurer which fails to pay when due any taxes, fees, licenses, and other charges owing to this state. The commissioner may likewise revoke the license of any agent, surplus lines broker, adjuster, administrator, reinsurance intermediary broker or manager, rental vehicle agent or managing employee, specialty credit producer or managing employee, life settlement broker or provider, or consultant, as to whom any tax or fee required under this code has not been paid when due.
Effective: July 15, 2010

Terms Used In Kentucky Statutes 304.4-040

  • agent: includes managing general agent unless the context requires otherwise. See Kentucky Statutes 304.9-085
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010

History: Amended 2010 Ky. Acts ch. 24, sec. 990, effective July 15, 2010. — Amended
2008 Ky. Acts ch. 32, sec. 12, effective July 15, 2008. — Amended 2002 Ky. Acts ch.
273, sec. 3, effective July 15, 2002. — Created 1970, sec. 301, subtit. 4, sec. 4, effective June 18, 1970.

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