{"data":{"id":"us-ky/krs-304.10-120","jurisdiction":"us-ky","citation":"KRS 304.10-120","heading":"Licensing of surplus lines brokers -- Reciprocity -- Termination.","body":"(1) Any person may be licensed as a surplus lines broker who:\n(a) Is a resident of Kentucky or is a nonresident who is not eligible to be issued a\nlicense in accordance with KRS 304.9-140; and\n(b) Is deemed by the commissioner to be competent and trustworthy w ith respect\nto the handling of surplus lines.\n(2) Application for the license shall be made to the commissioner on forms as\ndesignated and furnished by the commissioner.\n(3) The license fee shall be as specified in KRS 304.4-010.\n(4) The license and licensee shall be subject to the applicable provisions of Subtitle 9 of\nthis chapter.\n(5) Notwithstanding subsection (1) of this section, on or after July 1, 2002, an applicant\nlicensed as a surplus lines broker in the applicant's home state may be issued a\nnonresident surplus lines broker's license in Kentucky if the applicant's home state\nissues surplus lines broker licenses to Kentucky residents on the same basis.\n(6) If the resident surplus lines broker fails to maintain his or her agent license with\nlines of authority for property and casualty, or health and life for a broker procuring\nsurplus lines insurance providing disability coverage, then the surplus lines broker\nlicense shall terminate and shall be promptly surrendered to the commissioner\nwithout demand.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48239","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:41Z","sha256":"6cee2ef1f79fa284f8dbde69ff59c6e5e8655afd41a1ef6779e0d3360289be7b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.10-110","next":"us-ky/krs-304.10-130"},"notice":"GroundRules: Original legal text. Not legal advice."}