KRS 304.9-150: Application for license issued under this subtitle, surplus lines broker

license, life settlement broker license, or life settlement provider license.

(1) Application for a license issued under this subtitle, surplus lines broker license, life

settlement broker license, or life settlement provider license shall be made by the

applicant. Applications under this subsection shall be certified by the applicant as

true, correct, and complete to the best of the applicant's knowledge and belief under

penalty of perjury and under penalty of refusal, suspension, or revocation of the

license.

(2) The form of application shall require full answers to any questions as may be

reasonably necessary to determine the applicant's identity, residence, personal

history, business record, financial responsibility, experience in insurance, purpose

for which the license is to be used, and other facts as required by the commissioner

to determine whether the applicant meets the applicable qualifications for the

license applied for.

(3) The application shall state the kinds of insurance and any applicable lines of

authority proposed to be transacted.

(4) The application of a resident individual shall show whether the applicant is a citizen

of the United States. If the applicant i s not a citizen of the United States, the

applicant shall attach to the application a copy of his or her legal work authorization

document.

(5) The application shall also show whether the applicant was ever convicted of or is

currently charged with committing a crime; whether the applicant was ever involved

in an administrative proceeding regarding any professional or occupational license;

whether the applicant has a history of not being financially responsible; whether the

applicant has any delinquent tax obligation that is not the subject of a repayment

agreement; whether the applicant is currently charged with or has ever been found

liable of fraud, misappropriation, conversion of funds, misrepresentation, or breach

of fiduciary duty; whether the applicant has child support obligations in arrearage or

is subject to a child support -related subpoena or warrant; and whether the applicant

has ever had a business relationship with an insurer terminated for any alleged

misconduct, and the facts thereof.

(6) The commissioner may require additional information or submissions from

applicants and may obtain any documents or information reasonably necessary to

verify the information contained in an application.

(7) All applications shall be accompanied by:

(a) The app licable license fee and examination fee, in the respective amounts

stated in KRS 304.4-010; and

(b) Documentation supporting affirmative answers to the questions posed in the

background section.

(8) An individual designating Kentucky as his or her home sta te shall submit to the

commissioner the applicant's criminal background report from the Kentucky

Administrative Office of the Courts.

(9) No applicant for any license shall willfully misrepresent or withhold any fact or

information called for in the application form or in connection therewith.

(10) If the licensee is a business entity, the licensee shall notify the commissioner of all

changes among its members, directors, officers and other individuals designated in

or registered as to the license, within thirty (30) days of such change.

(11) A business entity applicant or licensee shall not be authorized to transact insurance

in Kentucky if that applicant or licensee has or uses a name which is the same as, or

deceptively similar to, that of another business entity licensee already so authorized.