{"data":{"id":"us-ky/krs-304.3-400","jurisdiction":"us-ky","citation":"KRS 304.3-400","heading":"Definitions for KRS 304.3-400 to 304.3-430.","body":"As used in KRS 304.3-400 to 304.3-430, unless the context requires otherwise:\n(1) \"Accredited state\" means a state in which the insurance regulatory agency has\nqualified as meeting the minimum financial regulatory standards promulgated and\nestablished from  time to time by the National Association of Insurance\nCommissioners;\n(2) \"Control\" or \"controlled\" has the meaning set forth in KRS 304.37-010;\n(3) \"Controlled insurer\" means an authorized insurer which is controlled, directly or\nindirectly, by a producer;\n(4) \"Controlling producer\" means a producer who directly or indirectly, controls an\ninsurer;\n(5) \"Authorized insurer\" or \"insurer\" means an insurer holding a certificate of authority\nfrom the commissioner to transact property or casualty insurance busine ss in\nKentucky. The following, among others, are not authorized insurers for the\npurposes of KRS 304.3-400 to 304.3-430:\n(a) All residual market mechanisms and joint underwriting authorities or\nassociations; and\n(b) All captive insurers, other than risk re tention groups as defined in 15 U.S.C.\nsecs. 3901 et seq. and 42 U.S.C. sec. 9671, including insurers owned by\nanother organization whose exclusive purpose is to insure risks of the parent\norganization and affiliated companies or, in the case of groups and\nassociations, insurance organizations owned by the insureds whose exclusive\npurpose is to insure risks to member organizations or group members and\ntheir affiliates; and\n(6) \"Producer\" means a person, firm, association, or corporation, when, for any\ncompensation, commission, or other thing of value, the person, firm, association, or\ncorporation acts or aids in any manner in soliciting, negotiating, or procuring the\nmaking of any insurance contract on behalf of an insured other than the person,\nfirm, association, or corporation.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=49245","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:37Z","sha256":"55b3c893920e2cfb4c3391390a606e5b6ca3b2c132137e240b6444d142b0750c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.3-330","next":"us-ky/krs-304.3-405"},"notice":"GroundRules: Original legal text. Not legal advice."}