{"data":{"id":"us-ky/krs-304.9-705","jurisdiction":"us-ky","citation":"KRS 304.9-705","heading":"Reinsurance intermediary license required -- Exemption.","body":"(1) No individual or business entity shall act as a reinsurance intermediary broker in\nKentucky if the reinsurance intermediary broker maintains an office either directly\nor as a director, officer, member, or employee of a business entity:\n(a) In Kentucky, unl ess the reinsurance intermediary broker is a licensed\ninsurance producer in Kentucky and may sell reinsurance products under that\ninsurance producer license; or\n(b) In another state, unless the reinsurance intermediary broker is a licensed\ninsurance producer in Kentucky and may sell reinsurance products under that\nproducer license, or is licensed in another state having a law substantially\nsimilar to KRS 304.9 -700 to 304.9 -759, or the reinsurance intermediary\nbroker is licensed in Kentucky as a nonresident reinsurance intermediary.\n(2) No individual or business entity shall act as a reinsurance intermediary manager:\n(a) For a reinsurer domiciled in Kentucky, unless the reinsurance intermediary\nmanager is a licensed insurance producer in Kentucky and may sell\nreinsurance products under that insurance producer license;\n(b) In Kentucky, if the reinsurance intermediary manager maintains an office,\neither directly or as a director, officer, member, or employee of a business\nentity in Kentucky, unless the reinsuran ce intermediary manager is a licensed\ninsurance producer in Kentucky and may sell reinsurance products under that\ninsurance producer license; or\n(c) In another state for a nondomestic insurer, unless the reinsurance intermediary\nmanager is a licensed insur ance producer in Kentucky and may sell\nreinsurance products under that insurance producer license, is licensed in\nanother state having a law substantially similar to KRS 304.9 -700 to 304.9 -\n759, or the person is licensed in Kentucky as a nonresident reinsur ance\nintermediary.\n(3) The commissioner may issue a reinsurance intermediary license to any individual or\nbusiness entity who has complied with the requirements of KRS 304.9 -700 to\n304.9-759 and who is financially responsible to exercise the license. The l icense\nissued to a business entity shall be exercised only by individuals designated with the\ncommissioner as to the license in accordance with KRS 304.9-133.\n(4) The commissioner may refuse to issue a reinsurance intermediary license if, in his\nor her jud gment, the applicant, anyone named on the application, or any member,\nprincipal, officer, or director of the applicant is not trustworthy or of good\nreputation, or that any controlling person of the applicant is not trustworthy to act as\na reinsurance inte rmediary, or that any of the foregoing persons have given cause\nfor revocation or suspension of the license, or has failed to comply with any\nprerequisite for the issuance of the license.\n(5) Licensed attorneys-at-law of Kentucky, when acting in their professional capacity as\nattorneys, shall be exempt from this section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16970","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:41Z","sha256":"025e38c226451f29c34e85f8e1aa99357b74b491b9be83fc7bdda505f007b681","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-700","next":"us-ky/krs-304.9-710"},"notice":"GroundRules: Original legal text. Not legal advice."}