{"data":{"id":"us-ky/krs-304.9-375","jurisdiction":"us-ky","citation":"KRS 304.9-375","heading":"Fiduciary accounts.","body":"All charges or premiums collected by an administrator on behalf of or for an insurer and\nreturn premiums or charges received from such insurer shall be held by the administrator\nin a fiduciary capacity. Such funds shall be immediately remitted to the person or persons\nentitled thereto, or shall be deposited promptly in a fiduciary bank account established\nand maintained by the administrator. If charges or premiums so deposited have been\ncollected on behalf of or for more than one (1) insurer, the administra tor shall cause the\nbank in which such fiduciary account is maintained to keep records clearly recording the\ndeposits and withdrawals from such account on behalf of or for each insurer. The\nadministrator shall promptly obtain and keep copies of all such re cords and, upon request\nof an insurer, shall furnish such insurer with copies of such records pertaining to deposits\nand withdrawals on behalf of or for such insurer. The administrator shall not pay any\nclaim by withdrawals from such fiduciary account. Wit hdrawals from such fiduciary\naccount shall be made, as provided in the written agreement between the administrator\nand the insurer, for:\n(1) Remittance to an insurer entitled thereto;\n(2) Deposit in an account maintained in the name of such insurer;\n(3) Transfer to and deposit in a claims paying account with claims to be paid as\nprovided in KRS 304.9-376;\n(4) Payment to a group policyholder for remittance to the insurer entitled thereto;\n(5) Payment to the administrator of its commission, fees, or charges; or\n(6) Remittance of return premium or charges to any person entitled thereto.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16936","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:40Z","sha256":"9e884cebe965bb24f8c26822902414c8f5b18786162a150b1023b43546778897","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-374","next":"us-ky/krs-304.9-376"},"notice":"GroundRules: Original legal text. Not legal advice."}