{"data":{"id":"us-ky/krs-304.9-085","jurisdiction":"us-ky","citation":"KRS 304.9-085","heading":"\"Managing general agent\" defined -- License -- Duties.","body":"(1) A \"managing general agent\" is an individual or business entity appointed by an\ninsurer to solicit applications from agents for insurance contracts or to negotiate\ninsurance contracts on behalf of an insurer and, if authorized to do so by an insurer,\nto effectuate and countersign insurance contracts.\n(2) (a) An individual or business entity in this state shall not be, act as, or hold\nhimself, herself, or itself out as a managing gener al agent unless then licensed\nas a managing general agent. In order to qualify for a managing general agent\nlicense, an individual shall:\n1. Hold an agent license with property and casualty lines of authority and\nbe appointed by each authorized insurer the  licensee holds the contract\nto represent;\n2. If a nonresident, hold a nonresident agent license with property and\ncasualty lines of authority and be appointed by each authorized insurer\nthe licensee holds a contract to represent in Kentucky; and\n3. Hold a  surplus lines broker license if any unauthorized insurers are\nrepresented or used.\n(b) In order for a business entity to qualify for a managing general agent license,\nall individuals acting on behalf of the business entity under its license shall\nbe:\n1. Licensed agents with property and casualty lines of authority; and\n2. Designated with the commissioner as to the license in accordance with\nall provisions of KRS 304.9-133.\n(3) As used in this chapter, \"agent\" includes managing general agent unless the context\nrequires otherwise.\n(4) (a) A managing general agent is a represe ntative of the insurers which the\nmanaging general agent holds a contract to represent.\n(b) Each insurer is liable for the acts of the managing general agent in\nrepresenting that insurer.\n(5) The commissioner shall renew managing general agent licenses in accordance with\nKRS 304.9-260.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57326","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:40Z","sha256":"f749970143a9214be921bcbb4fdc3849907135fce19f03125b3a9fbcc526b904","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-080","next":"us-ky/krs-304.9-090"},"notice":"GroundRules: Original legal text. Not legal advice."}