{"data":{"id":"us-ky/krs-304.9-133","jurisdiction":"us-ky","citation":"KRS 304.9-133","heading":"Individuals designated to act under business entity license -- Filing of","body":"designation notice -- Exercise of license -- Responsibility of insurer for acts of\ndesignated individuals.\n(1) As used in this section, \"licensed business entity\" means a business entity issued a:\n(a) License under this subtitle; or\n(b) Life settlement broker, life settlement provider, or surplus lines broker\nlicense.\n(2) (a) Except as provided in this subsection:\n1. A licensed business entity shall designate individual s to act under the\nbusiness entity license; and\n2. Each individual designated to act under the license of a business entity\nreferenced in subparagraph 1. of this paragraph shall hold the same kind\nof license as the business entity.\n(b) A portable electronics retailer issued a license shall designate a business entity\nto act under the license.\n(c) A managing general agent issued a license shall designate individuals licensed\nas agents with property and casualty lines of authority to act under the license.\n(d) A pharmacy benefit manager issued a license shall designate individuals\nlicensed as administrators to act under the license.\n(3) (a) The first individual designated by a licensed business entity to act under the\nbusiness entity license shall have one (1) or more of the same lines of\nauthority as the business entity.\n(b) An individual designated to act under the business entity license who is in\naddition to the first designee referenced in paragraph (a) of this subsection\nshall have at least one (1) appointment with an insurer.\n(4) A licensed business entity shall file with the commissioner:\n(a) Notice of the designation of an individual within thirty (30) days of the\ndesignation; and\n(b) Notice of termination of designation of an individual within thirty (30) days of\nthe termination of designation.\n(5) (a) Except as provided in subsection (2)(b) o f this section, a licensed business\nentity shall exercise its license only through one (1) or more designated\nindividual licensees.\n(b) 1. The business entity shall have for each of its licenses and active lines of\nauthority at least one (1) licensed indiv idual designated with the\ncommissioner at all times.\n2. If the business entity fails to have at least one (1) licensed individual\ndesignated with the commissioner for a line of authority, that line of\nauthority shall become inactive.\n3. If the business ent ity fails to have at least one (1) licensed individual\ndesignated with the commissioner, the business entity license shall\nterminate.\n(6) An insurer that has appointed the business entity licensee shall be responsible for\nthe acts of each designated indivi dual performed under the business entity's license\nas if the insurer had appointed the individual licensee.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57328","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:40Z","sha256":"3ce951ab6ccd83b5e1b45736f5c8b340088c025e6a97bb4ace791841afd8e8fa","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-130","next":"us-ky/krs-304.9-135"},"notice":"GroundRules: Original legal text. Not legal advice."}