HB 11 (BR 23) - J. Greer
AN ACT relating to insurance licensing.
Amend KRS 304.3-180 to reduce the number of consecutive years from seven to five that an insurer may use the same lead or coordinating audit partner of an accountant firm for preparing the audited financial statement, effective beginning with the year 2010 statutory audits; amend KRS 304.9-020 to define "rental vehicle insurance," "rental vehicle agent" and "rental vehicle agent managing employee"; amend KRS 304.9-133 to delete the requirement that business entities file an annual report of all designated individuals who were not terminated on or prior to December 31; amend 304.9-150 to remove the requirement that a business entity applicant file with its application a certificate issued by the Kentucky Secretary of State demonstrating that it can do business in Kentucky and a copy of its assumed name certificate; provide that a business entity applicant or licensee shall not use a name which is the same or deceptively similar to another business entity licensee; amend KRS 304.9-230 to add rental vehicle as a limited line of authority subject to the general licensing requires for all general agents; amend KRS 304.9-505, 304.9-507, and 304.9-509 to conform; repeal KRS 304.9-485, 304.9-501, 304.9-503, and 304.9-513.
(Prefiled by the sponsor(s).)
Sep 2-To: Interim Joint Committee on Banking and Insurance
Jan 5-introduced in House; to Banking & Insurance (H)