{"data":{"id":"us-ky/krs-304.9-150","jurisdiction":"us-ky","citation":"KRS 304.9-150","heading":"Application for license issued under this subtitle, surplus lines broker","body":"license, life settlement broker license, or life settlement provider license.\n(1) Application for a license issued under this subtitle, surplus lines broker license, life\nsettlement broker license, or life settlement provider license shall be made by the\napplicant. Applications under this subsection shall be certified by the applicant as\ntrue, correct, and complete to the best of the applicant's knowledge and belief under\npenalty of perjury and under penalty of refusal, suspension, or revocation of the\nlicense.\n(2) The form of application shall require full answers to any questions as may be\nreasonably necessary to determine the applicant's identity, residence, personal\nhistory, business record, financial responsibility, experience in insurance, purpose\nfor which the license is to be used, and other facts as required by the commissioner\nto determine whether the applicant meets the applicable qualifications for the\nlicense applied for.\n(3) The application shall state the kinds of insurance and any applicable lines of\nauthority proposed to be transacted.\n(4) The application of a resident individual shall show whether the applicant is a citizen\nof the United States. If the applicant i s not a citizen of the United States, the\napplicant shall attach to the application a copy of his or her legal work authorization\ndocument.\n(5) The application shall also show whether the applicant was ever convicted of or is\ncurrently charged with committing a crime; whether the applicant was ever involved\nin an administrative proceeding regarding any professional or occupational license;\nwhether the applicant has a history of not being financially responsible; whether the\napplicant has any delinquent tax obligation that is not the subject of a repayment\nagreement; whether the applicant is currently charged with or has ever been found\nliable of fraud, misappropriation, conversion of funds, misrepresentation, or breach\nof fiduciary duty; whether the applicant has child support obligations in arrearage or\nis subject to a child support -related subpoena or warrant; and whether the applicant\nhas ever had a business relationship with an insurer terminated for any alleged\nmisconduct, and the facts thereof.\n(6) The commissioner may require additional information or submissions from\napplicants and may obtain any documents or information reasonably necessary to\nverify the information contained in an application.\n(7) All applications shall be accompanied by:\n(a) The app licable license fee and examination fee, in the respective amounts\nstated in KRS 304.4-010; and\n(b) Documentation supporting affirmative answers to the questions posed in the\nbackground section.\n(8) An individual designating Kentucky as his or her home sta te shall submit to the\ncommissioner the applicant's criminal background report from the Kentucky\nAdministrative Office of the Courts.\n(9) No applicant for any license shall willfully misrepresent or withhold any fact or\ninformation called for in the application form or in connection therewith.\n(10) If the licensee is a business entity, the licensee shall notify the commissioner of all\nchanges among its members, directors, officers and other individuals designated in\nor registered as to the license, within thirty (30) days of such change.\n(11) A business entity applicant or licensee shall not be authorized to transact insurance\nin Kentucky if that applicant or licensee has or uses a name which is the same as, or\ndeceptively similar to, that of another business entity licensee already so authorized.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16908","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:40Z","sha256":"df06b3e274f8affdb518ed2546c9c727bd1194ceb9cd24bb55397ca4afa3bea8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-142","next":"us-ky/krs-304.9-160"},"notice":"GroundRules: Original legal text. Not legal advice."}