{"data":{"id":"us-ky/krs-304.3-180","jurisdiction":"us-ky","citation":"KRS 304.3-180","heading":"Continuance, expiration, and reinstatement of certificate of authority --","body":"Preparation of audited financial statements.\n(1) A certificate of authority shall continue in force as long as the insurer is entitled\nthereto under this code, and until sus pended or revoked by the commissioner or\nterminated at the insurer's request; subject, however, to continuance of the\ncertificate by the insurer each year by:\n(a) Payment of the continuation fee provided in Subtitle 4 by March 1, or, if paid\nby mail, postmarked no later than March 1;\n(b) Due filing by the insurer of its annual statement for the next preceding\ncalendar year as required by KRS 304.3-240;\n(c) Payment by the insurer of premium taxes with respect to the preceding\ncalendar year; and\n(d) Due filin g by domestic companies of quarterly statements as ordered by the\ncommissioner.\n(2) If not so continued by the insurer, its certificate of authority shall expire at midnight\non the April 30 next following the failure of the insurer to continue it in force,\nunless earlier revoked for failure to pay taxes as provided in KRS 304.4 -040. The\ncommissioner shall promptly notify the insurer of the occurrence of any failure\nresulting in impending expiration of its certificate of authority.\n(3) The commissioner may, in his or her discretion, upon the insurer's request made\nwithin three (3) months after expiration, reinstate a certificate of authority which the\ninsurer has inadvertently permitted to expire, after the insurer has fully cured all its\nfailures which resul ted in the expiration and paid the fine as set forth in KRS\n304.99-154. Otherwise the insurer shall be granted another certificate of authority\nonly after filing application therefor and meeting all other requirements as for an\noriginal certificate of authority in this state.\n(4) Beginning with the statutory audits for the year 2010, an insurer shall not use the\nsame lead or coordinating partner of an accounting firm responsible for preparing\nthe audited financial statement for more than five (5) consecutive years.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40291","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:37Z","sha256":"9bf301887a4a296dca2949a779da34f8e52314b1f1374df5df94e622434cc132","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.3-170","next":"us-ky/krs-304.3-190"},"notice":"GroundRules: Original legal text. Not legal advice."}