{"data":{"id":"us-ky/krs-304.45-060","jurisdiction":"us-ky","citation":"KRS 304.45-060","heading":"Requirements for eligibility for charter of out-of-state groups.","body":"(1) A purchasing group which intends to do business in this state shall, prior to doing\nbusiness, furnish notice to the commissioner which shall:\n(a) Identify the state in which the purchasing group is domiciled;\n(b) Specify the kinds and classification of liability insurance which the purchasing\ngroup intends to purchase;\n(c) Identify the insurance company or companies from which the purchasing\ngroup intends to purchase its insurance and the domicile or domiciles of the\ninsurance company or insurance companies;\n(d) Specify the method by which and the person or persons, if any, through whom\ninsurance will be offered to its members whose risks are resident or located in\nthis state;\n(e) Identify the principal place of business of the purchasing group; and\n(f) Provide any other information as may be required by the commissioner to\nverify that the purchasing group is qualified under KRS 304.45-020(14) and is\notherwise in compliance with the laws of this state.\n(2) A purchasing group shall, within ten (10) days, notif y the commissioner of any\nchanges in any of the items set forth in subsection (1) of this section.\n(3) The purchasing group shall register with and designate the Secretary of State as its\nagent solely for the purpose of receiving legal documents or process, except that this\nrequirement shall not apply in the case of a purchasing group:\n(a) Which in any state of the United States:\n1. Was domiciled before April 1, 1986; and\n2. Is domiciled on and after October 27, 1986;\n(b) Which:\n1. Before October 27, 1986, purchased insurance from an insurer licensed\nin any state; and\n2. Since October 27, 1986, purchased its insurance from an insurer licensed\nin any state;\n(c) Which was a purchasing group under the requirements of the Product Liability\nRisk Retention Act of 1981 (P.L. 97-45) before October 27, 1986; and\n(d) Which does not purchase insurance that was not authorized for purposes of an\nexemption under that act, as in effect before October 27, 1986.\n(4) Any purchasing group which was doing business in this state prior to July 13, 1990,\nshall, within thirty (30) days after July 13, 1990, furnish notice to the commissioner\npursuant to the provisions of this subtitle and furnish the information required\npursuant to this subtitle.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=47099","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:59Z","sha256":"10a1b3da6e8d220b3123e6566cbe780ed8ec61385c38a4f7bb6ec0cc7d871e57","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.45-050","next":"us-ky/krs-304.45-070"},"notice":"GroundRules: Original legal text. Not legal advice."}