{"data":{"id":"us-ky/krs-304.45-130","jurisdiction":"us-ky","citation":"KRS 304.45-130","heading":"Unlicensed person prohibited from acting as agent for risk retention","body":"group or purchasing group.\n(1) No person shall act or aid in any manner in soliciting, negotiating, or procuring\nliability insurance in this state from a risk retention group unle ss such person is\nlicensed as an insurance agent in accordance with Subtitle 9 of this chapter.\n(a) However, no such license shall be required of salaried employees of a risk\nretention group not compensated based on the volume of business.\n(b) A risk retention group is responsible for the acts of its agents or other persons\nacting on its behalf in the solicitation, negotiation, or procurement of liability\ninsurance or the acceptance of premiums for liability insurance.\n(c) Any person required by this sectio n to be licensed as an insurance agent shall\ngive notice to each applicant that any policy issued by a risk retention group\nmay not be subject to all of the insurance laws and administrative regulations\nof the Commonwealth and that state insurance insolven cy guaranty funds are\nnot available for risk retention groups.\n(2) No person shall act or aid in any manner in soliciting, negotiating, or procuring\nliability insurance in this state for a purchasing group from an authorized insurer,\nrisk retention group c hartered in a state, or a surplus lines insurer eligible to do\nbusiness in this state unless such person is licensed as insurance agent or surplus\nlines broker in accordance with Subtitles 9 and 10 of this chapter.\n(3) No person shall act or aid in any man ner in soliciting, negotiating, or procuring\nliability insurance coverage in this state for any member of a purchasing group\nunder a purchasing group's liability insurance policy unless such person is licensed\nas an insurance agent in accordance with Subtitle 9 of this chapter.\n(a) No license shall be required of salaried employees of an insurer or of a\npurchasing group who are not compensated based on the volume of business.\n(b) An insurer issuing a liability insurance policy to a purchasing group is\nresponsible for the acts of its agents or other persons acting on its behalf in the\nsolicitation, negotiation, or procurement of liability insurance or the\nacceptance of premiums for liability insurance.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=30166","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:59Z","sha256":"745e893e2b27a236097f189763d73d9204b1b9529ddcb787f7a6c31a26de8047","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.45-120","next":"us-ky/krs-304.45-140"},"notice":"GroundRules: Original legal text. Not legal advice."}