KRS 304.3-735: Annual report.

(1) One hundred twenty days (120) days prior to the start of the 2026, 2027, 2028,

2029, and 2030 regular sessions of the General Assembly, the commissioner shall

submit a written report to the Interim Joint Committee on Banking and Insurance

that meets the re quirements of subsection (2) of this section. Thereafter, the

commissioner shall submit the report annually, upon request.

(2) The report shall include the following:

(a) The number of:

1. Applications filed and accepted;

2. Beta tests conducted; and

3. Extended letters issued;

(b) A description of the innovations tested;

(c) The length of each beta test;

(d) The results of each beta test;

(e) A description of each safe harbor created under KRS 304.3-725;

(f) The number and types of orders or other actions taken by the commissioner or

any other interested party under KRS 304.3-700 to 304.3-725;

(g) Identification of any statutory barriers for co nsideration of amendment by the

General Assembly following successful beta tests and the issuance of

extended letters; and

(h) Any other information or recommendations deemed relevant by the

commissioner.

(3) The commissioner shall also provide the Interim Joint Committee on Banking and

Insurance a detailed briefing, upon request, to discuss and explain any report

submitted under this section.