SB 209 (BR 1477) - L. Saunders
AN ACT relating to insurance.
Amend KRS 287.030 to provide that Kentucky-chartered banks or their subsidiaries are specifically authorized to engage in the sale of non-credit-related insurance; delete provision that prohibits a person who owns or acquires more than one-half of the capital stock of a bank from acting as an insurance agent or broker; create a new section of Subtitle 9 of KRS Chapter 304, the insurance code, to establish requirements to be met by financial institutions authorized to engage in insurance agency activities; prohibit an officer or employee of a financial institution from delaying or impeding completion of a loan transaction for the purpose of influencing a consumer's selection or purchase of any insurance; establish standards for compensating an employee of a financial institution for referral of a consumer to a licensed person.
Jan 27-introduced in Senate
Jan 28-to Banking and Insurance (S)