329A.050 Change of ownership -- Agent who ceases to perform duties. (1) If the ownership of an investigating company changes, the new owner, if not already a licensee, shall not operate that company more than thirty (30) days after the date of the ownership change unless, within the thirty (30) day period, the new owner submit s an application for a license. (a) If the application is submitted, the new owner may continue to operate the company until the application has been finally determined by the board. (b) The board may extend for a reasonable time the period for submitting an application under this subsection. (2) If the qualifying agent of a company ceases to perform the duties of an agent on a regular basis, the licensee shall notify the board by certified or registered mail within thirty (30) days and substitute a new qua lifying agent within ninety (90) days. The board may extend for a reasonable time the period for obtaining a substitute qualifying agent. Effective: July 15, 2002 History: Created 2002 Ky. Acts ch. 269, sec. 9, effective July 15, 2002.
Kentucky Legal Code