{"data":{"id":"us-ky/krs-304.33-260","jurisdiction":"us-ky","citation":"KRS 304.33-260","heading":"Duties of agents.","body":"(1) Written notice. Every person who receives notice in the form prescribed in KRS\n304.33-250 that an insurer for which he or she has acted as agent is the subject of a\nliquidation order shall as soon as practicable give notice of the liquidation order.\nThe no tice shall be sent by first -class mail to the last address contained in the\nagent's records to each policyholder or other person named in any policy issued\nthrough the agent by the company, if he or she has a record of the address of the\npolicyholder or ot her person. A policy shall be deemed issued through an agent if\nthe agent has a property interest in the expiration of the policy; or if the agent has\nhad in his or her possession a copy of the declarations of the policy at any time\nduring the life of the policy, except where the ownership of the expiration of the\npolicy has been transferred to another. The written notice shall include the name\nand address of the insurer, the name and address of the agent, identification of the\npolicy impaired, and the natu re of the impairment under KRS 304.33 -210. Notice\nby a general agent shall satisfy the notice requirement for any agents under contract\nto him or her.\n(2) Oral notice. So far as practicable, every insurance agent subject to subsection (1) of\nthis section s hall give immediate oral notice, by telephone or otherwise, of the\nliquidation order to the same persons to whom he or she is obligated to give written\nnotice. The oral notice shall include substantially the same information as the\nwritten notice.\n(3) The liquidator may waive the duties imposed by this section if he or she determines\nthat other notice to the policyholders of the insurer under liquidation is adequate.\n(4) Transfer of assets. Every agent subject to subsection (1) of this section shall,\nimmediately upon receiving notice pursuant to KRS 304.33 -250, and not later than\nthirty (30) days thereafter, except as otherwise provided under or KRS 304.33 -055\nor 304.33-240(6), transfer all assets of the insurer in possession of the agent as of\nthe date of liquidation or any time thereafter to the liquidator. If there is any dispute\nas to whether assets which an agent is holding are assets of the insurer, the agent\nshall petition the court for an order determining the ownership thereof.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56205","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:54Z","sha256":"e446ad7345c93192cf0e7256e85cd5b05c13a8df4fdc2e8e4aba37452b0d4df8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.33-250","next":"us-ky/krs-304.33-270"},"notice":"GroundRules: Original legal text. Not legal advice."}