{"data":{"id":"us-ky/krs-304.27-100","jurisdiction":"us-ky","citation":"KRS 304.27-100","heading":"Bond of attorney.","body":"(1) Concurrently with the filing of the declaration provided for in KRS 304.27 -060, the\nattorney of a domestic reciprocal insurer shall file with the commissioner a bond in\nfavor of this state for the benefit of all persons damaged as a result of breach by the\nattorney of the conditions of his or her bond as set forth in subsection (2) of this\nsection. The bond shall be executed by the attorney and by an authorized corporate\nsurety, and shall be subject to the commissioner's approval.\n(2) The bond shall be in t he penal sum of one hundred thousand dollars ($100,000),\naggregate in form, conditioned that the attorney will faithfully account for all\nmoneys and other property of the insurer coming into his or her hands, and that he\nor she will not withdraw or appropr iate to his or her own use from the funds of the\ninsurer, any moneys or property to which he or she is not entitled under the power\nof attorney.\n(3) The bond shall provide that it is not subject to cancellation unless thirty (30) days'\nadvance notice in wr iting of cancellation is given both the attorney and the\ncommissioner.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29618","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:52Z","sha256":"452b552b390641782496b12c07262b78c91514c3193472cdaf897b12cd2de3c5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.27-090","next":"us-ky/krs-304.27-110"},"notice":"GroundRules: Original legal text. Not legal advice."}