{"data":{"id":"us-ky/krs-304.99-015","jurisdiction":"us-ky","citation":"KRS 304.99-015","heading":"Penalties for failure of commissioner or examiner to take action when","body":"having knowledge of statutory insolvency or hazardous financial condition of\nauthorized insurer.\n(1) Any deputy director or any examiner who has knowledge of the statutory\ninsolvency, or hazardous financial condition as defined by administrative\nregulation, of an authorized insurer, or that it is inexpedient to permit the authorized\ninsurer to continue business, and who fails to immediately present a signed report of\nthe facts to the commissioner, or who violates any of the provisions of this chapter,\nshall forfeit his or her office or employment contract and shall be fined not less than\none hundred dollars ($100) nor more than two thousand dollars ($2,000) for each\noffense.\n(2) Any commissioner who has knowledge of the statutory insolvency, or hazardous\nfinancial condition as defined by administrative regulation, of an authorized insurer,\nor that it is inexpedient to permit the authorized insurer to continue business, and\nwho willfully fails to take the action prescribed by this chapter, or who violates any\nof the provisions of this chapter, shall forfeit his or her office and shall be fined not\nless than five hundred dollars ($500) nor more than five thousand dollars ($5,000)\nfor each offense.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=30279","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:00Z","sha256":"2ae4a0101b08853161e3dc69db07169374d5569a9d9ee4f4abbf0a3b6e33648d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.99-010","next":"us-ky/krs-304.99-020"},"notice":"GroundRules: Original legal text. Not legal advice."}