{"data":{"id":"us-ky/krs-304.2-260","jurisdiction":"us-ky","citation":"KRS 304.2-260","heading":"Examination reports -- Distribution -- Hearing -- Order of commissioner","body":"-- Confidentiality -- Public inspection -- Regulatory action.\n(1) The commissioner shall deliver a copy of the examination report to the person\nexamined, together with a notice affording the person twenty (20) days or additional\nreasonable period as the commissioner for good cause may allow within which to\nreview the report and recommend changes therein.\n(2) If so requested by the person examined, within the period allowed under subsection\n(1) of this section, or if deemed advisable by the commissioner without a request,\nthe commissioner shall hold a hearing relative to the report and shall not file the\nreport in the department for public inspection until after the hearing and his  order\nthereon, except that the commissioner may furnish a copy of the report to the\nGovernor or Attorney General of the state pending final decision thereon.\n(3) If no hearing has been requested or held, the commissioner shall fully consider and\nreview th e report, together with any written submissions or rebuttals and any\nrelevant portions of the examiner's workpapers and enter an order within sixty (60)\ndays of the end of the period allowed under subsection (1) of this section. The order\nof the commissioner shall:\n(a) Adopt the examination report as filed or with modifications or corrections. If\nthe examination report reveals that the person is operating in violation of or\nhas violated any law, administrative regulation, or prior order of the\ncommissioner, the commissioner may order the person to take action to cure\nthe violations and impose penalties as the commissioner considers necessary\nand appropriate; or\n(b) Reject the examination report with directions to the examiners to reopen the\nexamination for p urposes of obtaining additional data, documentation, or\ninformation, and refiling as provided in KRS 304.2-250; or\n(c) Call for a hearing for purposes of obtaining additional documentation, data,\ninformation, and testimony.\n(4) Upon entry of the commissioner's order, the examination report, with modifications,\nif any, thereof as the commissioner deems proper, shall be filed in the department\nfor public inspection, except that the commissioner may withhold from public\ninspection any examination report for so  long as he deems the withholding to be\nnecessary for the protection of the person examined against unwarranted injury or to\nbe in the public interest and except that the commissioner shall withhold from\npublic inspection any examination report of a domest ic insurer as provided in KRS\n304.2-270.\n(5) An examination workpaper shall be deemed confidential information and shall not\nbe available for public inspection, except that the commissioner may in the\ncommissioner's discretion disclose an examination workp aper, the content of a\npreliminary examination report, examination results, or any other matter resulting to\nan examination report to the department of insurance of any other state or country,\nor to the National Association of Insurance Commissioners, or t o law enforcement\nofficials of this or any other state, or to an agency of this state or any other state or\nthe federal government at any time, if the agency or office receiving the report or\nmatters relating to the report agrees in writing to hold the inf ormation confidential\nand in a manner consistent with this section.\n(6) The commissioner shall forward to the person examined a copy of the examination\nreport as filed for public inspection, together with the order of the commissioner.\n(7) If the report co ncerns the examination of a domestic insurer, a copy of the report,\nwhen filed for public inspection, or if withheld from public inspection in\naccordance with KRS 304.2 -270 or subsection (4) of this section, together with the\norder of the commissioner, shall be presented by the insurer's chief executive officer\nto the insurer's board of directors or similar governing body at a meeting thereof\nwhich shall be held within ninety (90) days next following receipt of the report and\norder. A copy of the report and  order shall also be furnished by the secretary of the\ninsurer, if incorporated, or by the attorney -in-fact if a reciprocal insurer, or Lloyd's\nplan insurer, to each member of the insurer's board of directors or board of\ngovernors, if a reciprocal insurer,  or Lloyd's plan insurer, and the certificate of the\nsecretary or attorney-in-fact, which shall be filed promptly with the department, that\na copy of the examination report and order, has been so furnished shall be deemed\nto constitute knowledge of the contents of the report and order by each member.\n(8) The report when so filed in the department shall be admissible in evidence in any\naction or proceeding brought by the commissioner against the person examined, or\nagainst its officers, employees, or agents. In any action or proceeding brought by the\ncommissioner, the commissioner or his examiners may, however, at any time testify\nand offer proper evidence as to information secured or matters discovered during\nthe course of an examination, whether or not a written report of the examination has\nbeen either made, furnished, or filed in the department.\n(9) If the commissioner determines that regulatory action is appropriate as a result of an\nexamination, he or she may initiate any proceedings or actions provided by law.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16677","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:37Z","sha256":"a33a2fa97bae062af360a8345b88030f1d8cebbb9f688a34a1f25ec819f5250b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.2-250","next":"us-ky/krs-304.2-270"},"notice":"GroundRules: Original legal text. Not legal advice."}