{"data":{"id":"us-ky/krs-304.49-080","jurisdiction":"us-ky","citation":"KRS 304.49-080","heading":"Examination of captive insurers.","body":"(1) Any insurer holding a certificate of authority issued under this subtitle shall be\nsubject to provisions of KRS 304.2-210 to 304.2-300 and provisions of Subtitle 2 of\nthis chapter for determining market conduct and business practices. However, the\ncommissioner upon application, in his or her discretion, may extend the period\nbetween examinations, provided the captive insurer is subject to a comprehensive\nannual audit during that period, of a scope satisfactory to the commissioner, by\nindependent auditors approved by the commissioner.\n(2) The examination for a branch captive insurer shall be of branch business and branch\noperations only, as long as the branch captive insurer provides annually to the\ncommissioner a certificate of compliance, or its equivalent,  issued by or filed with\nthe licensing authority of the jurisdiction in which the branch captive insurer is\nformed, and demonstrates to the commissioner's satisfaction that it is operating in\nsound financial condition in accordance with all applicable laws  and regulations of\nthat jurisdiction.\n(3) As a condition for issuance of a certificate of authority to a branch captive insurer,\nthe foreign captive insurer shall grant authority to the commissioner for examination\nof the affairs of the foreign captive in surer in the jurisdiction in which the foreign\ncaptive insurer is formed.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=30225","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:59Z","sha256":"630cd4d5cc55a1b30adb04420d0eea5819ad791dd83a1e127c8dbf917284b4ac","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.49-070","next":"us-ky/krs-304.49-090"},"notice":"GroundRules: Original legal text. Not legal advice."}