{"data":{"id":"us-ky/krs-304.29-311","jurisdiction":"us-ky","citation":"KRS 304.29-311","heading":"Suspension, revocation, or refusal of license of foreign or alien society.","body":"(1) If the commissioner upon investigation finds that a foreign or alien society\ntransacting or applying to transact business in this state:\n(a) Has exceeded its powers;\n(b) Has failed to comply with any of the provisions of this subtitle;\n(c) Is not fulfilling its contracts in good faith; or\n(d) Is conducting its business fraudulently or in a manner hazardous to its\nmembers or creditors or the public;\nthe commissioner shall notify the society of the deficiency or deficiencies and state\nin writing the reasons for his or her dissatisfaction. The commissioner shall issue a\nwritten notice to the society requiring that the deficiency or deficiencies which exist\nare corrected. Aft er the notice, the society shall have a thirty (30) day period in\nwhich to comply with the commissioner's request for correction; and if the society\nfails to comply, the commissioner shall notify the society of the findings of\nnoncompliance and require the  society to show cause on a date named why its\nlicense should not be suspended, revoked, or refused. If on that date the society does\nnot present good and sufficient reason why its authority to do business in this state\nshould not be suspended, revoked, or  refused, the commissioner may suspend or\nrefuse the license of the society to do business in this state until satisfactory\nevidence is furnished to the commissioner that suspension or refusal should be\nwithdrawn or the commissioner may revoke the authorit y of the society to do\nbusiness in this state.\n(2) Nothing contained in this section shall be taken or construed as preventing any\nsociety from continuing in good faith all contracts made in this state during the time\nthe society was legally authorized to transact business herein.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29707","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:53Z","sha256":"d659a9dc14835cb5b68b39bdffaded24d3d354e0d91761c9de969c4e42da42d9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.29-310","next":"us-ky/krs-304.29-320"},"notice":"GroundRules: Original legal text. Not legal advice."}