{"data":{"id":"us-ky/krs-304.9-330","jurisdiction":"us-ky","citation":"KRS 304.9-330","heading":"Consultant to file proof of liability insurance -- Consultant's deposit of","body":"cash or bond.\n(1) To the extent the Gramm -Leach-Bliley Act, 15 U.S.C. sec. 6751(f), provides that\nevidence of financial responsibility may be required for licensing, every licensed\nconsultant shall maintain in effect while so licensed:\n(a) The certificate of an insurer authorized to write legal liability insurance in this\nstate, that the insurer has and will keep in effect on behalf of the consultant a\npolicy of insurance covering the legal liability of the consultant as the result of\nerroneous acts or failure to act in his or her capacity as an insurance\nconsultant, and inuring to the benefit of any aggrieved party as the result of\nany single occurrence in the sum of not les s than twenty thousand dollars\n($20,000) and one hundred thousand dollars ($100,000) in the aggregate for\nall occurrences within one (1) year; or\n(b) A cash surety bond executed by an insurer authorized to write this business in\nthis Commonwealth, in the s um of twenty thousand dollars ($20,000) which\nshall be subject to lawful levy of execution by any party to whom the\nconsultant has been found to be legally liable as the result of erroneous acts or\nfailure to act in his or her capacity as a consultant.\n(2) The bond shall indemnify any person damaged by any fraudulent or unlawful act or\nconduct of the licensee in transactions under the license, and shall likewise be\nconditioned upon faithful accounting and application of all moneys coming into the\nlicensee's possession in connection with his or her activities as the licensee.\n(3) The bond shall remain in force until canceled by the surety. Without prejudice to\nany liability previously incurred thereunder, the surety may cancel the bond upon\nthirty (30) days advance written notice to the licensee.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40294","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:40Z","sha256":"8f981c2c09d1506e04994151ef9802b1dbeab4ca94b73271f941edfaa428f847","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-320","next":"us-ky/krs-304.9-340"},"notice":"GroundRules: Original legal text. Not legal advice."}