§ 304-3-510

304.3 -510 Licensing of controlling agent -- Evidence of financial responsibility. (1) A person shall not be, act as, or hold himself or herself out as a controlling agent with respect to risks located in Kentucky for an insurer authorized in Kentucky unless the person is licensed as agent by Kentucky. (2) A person shall not be, act as, or hold himself or herself out as a controlling agent representing an insurer domiciled in Kentucky with respect to risks located outside Kentucky unless the person is licensed as an agent by Kentucky. (3) The commissioner may require a controlling agent t o provide evidence of financial responsibility in the form and amount acceptable to the commissioner for the protection of the insurer, policyholders, and claimants. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 982, effective July 1 5, 2010. -- Created 1992 Ky. Acts ch. 139, sec. 2, effective July 14, 1992.