{"data":{"id":"us-ky/krs-304.3-420","jurisdiction":"us-ky","citation":"KRS 304.3-420","heading":"Authority of commissioner -- Actions.","body":"(1) If the commissioner believes that the controlling producer or any other person has\nnot materially complied with KRS 304.3 -400 to 304.3 -430, or any administrative\nregulation or order promulgated under KRS 304.3 -400 to 304.3 -430, the\ncommissioner may:\n(a) Order the controlling producer to cease placing business with the controlled\ninsurer; or\n(b) If it was found that because of the material noncompliance that the controlled\ninsurer or any policyholder has suffered any loss or damage, the commissioner\nmay maintain a civil action, intervene in an action brought by or on behalf of\nthe insurer or a policyholder for recovery of compensatory damages for the\nbenefit of the insurer or policyholder, or seek other appropriate relief.\n(2) Appeals from orders issued under  subsection (1) of this section shall be taken as\nprovided in Subtitle 2 of this chapter.\n(3) If an order for liquidation or rehabilitation of the controlled insurer has been entered\npursuant to Subtitle 33 of this chapter, and the receiver appointed under  that order\nbelieves that the controlling producer or any other person has not materially\ncomplied with KRS 304.3 -400 to 304.3 -430, or any administrative regulation or\norder promulgated under KRS 304.3-400 to 304.3-430, and the insurer suffered any\nloss or damage, the receiver may maintain a civil action for recovery of the damages\nor seek other appropriate sanctions for the benefit of the insurer.\n(4) Nothing contained in this section shall affect the right of the commissioner to\nexercise any other authority granted to him or her by law.\n(5) Nothing contained in this section is intended to or shall in any manner alter or affect\nthe rights of policyholders, claimants, creditors, or other third parties.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16737","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:37Z","sha256":"259bd17def2028c6be3ff376073712f7635a61e5a57c280c4d3efd69f1045c58","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.3-415","next":"us-ky/krs-304.3-425"},"notice":"GroundRules: Original legal text. Not legal advice."}