{"data":{"id":"us-ky/krs-304.17a-758","jurisdiction":"us-ky","citation":"KRS 304.17A-758","heading":"Activities allowed under administrator license -- Financial statements","body":"-- Books and records -- Renewal of certificate -- Nontransferability -- Fees.\n(1) The insurance purchasing outlet may collect premiums and the value of vouchers\nfrom or on beha lf of insurance purchasing outlet members under its administrator\nlicense.\n(2) The insurance purchasing outlet shall not adjust or settle claims on insurance\npurchasing outlet members under its administrator license.\n(3) The insurance purchasing outlet shall comply with KRS 304.9-371 to 304.9-377.\n(4) The insurance purchasing outlet shall furnish annual and quarterly financial\nstatements no later than sixty (60) days after the end of the reporting period on a\nform prescribed by the commissioner. Additionall y, the insurance purchasing outlet\nshall furnish to the commissioner annual audited financial statements based on\ngenerally accepted accounting principles by an independent certified public\naccountant on or before one hundred twenty (120) days from the end  of the\ninsurance purchasing outlet's fiscal year for the immediately preceding fiscal year.\n(5) The books and records of the insurance purchasing outlet shall be retained in the\nstate of Kentucky and made available to the commissioner for inspection or\nexamination.\n(6) Upon payment of all applicable fees, the certificate of registration issued in\naccordance with KRS 304.17A -754 shall be renewed at the same time that the\ninsurance purchasing outlet renews its administrator license in accordance with\nSubtitle 9 of Chapter 304.\n(7) The certificate of registration issued under KRS 304.17A-754 is not transferable.\n(8) The department shall promulgate administrative regulations to establish fees for the\ninitial registration and renewal of registration of an insurance purchasing outlet.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29354","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:48Z","sha256":"9c79af7c31e161e0a0518ae6298c27dc375f8eb6ee6b26c33b6377bc37f5af4c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.17a-756","next":"us-ky/krs-304.17a-760"},"notice":"GroundRules: Original legal text. Not legal advice."}