Kentucky Statutes 304.10-020 – Exemptions from Surplus Lines Law
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This Surplus Lines Law shall not apply to reinsurance, or to the following insurances when so placed by agents or surplus lines brokers licensed in this state:
(1) Ocean marine and foreign trade insurances.
(2) Insurance on subjects located, resident, or to be performed wholly outside of this state, or on vehicles or aircraft owned and principally garaged outside this state.
(3) Insurance on operations of railroads engaged in transportation in interstate commerce and their property used in such operations.
(4) Insurance of aircraft owned or operated by manufacturers of aircraft or of aircraft operated in commercial interstate flight or cargo of aircraft or against liability other than workers’ compensation and employer’s liability arising out of the ownership, maintenance, or use of aircraft.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 393, sec. 38, effective July 14, 2000. — Created
1970 Ky. Acts ch. 301, subtit. 10, sec. 2, effective June 18, 1970.
(1) Ocean marine and foreign trade insurances.
Terms Used In Kentucky Statutes 304.10-020
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Surplus lines: means nonadmitted insurance sold to, solicited by, or negotiated with an insured whose home state is Kentucky. See Kentucky Statutes 304.10-030
(2) Insurance on subjects located, resident, or to be performed wholly outside of this state, or on vehicles or aircraft owned and principally garaged outside this state.
(3) Insurance on operations of railroads engaged in transportation in interstate commerce and their property used in such operations.
(4) Insurance of aircraft owned or operated by manufacturers of aircraft or of aircraft operated in commercial interstate flight or cargo of aircraft or against liability other than workers’ compensation and employer’s liability arising out of the ownership, maintenance, or use of aircraft.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 393, sec. 38, effective July 14, 2000. — Created
1970 Ky. Acts ch. 301, subtit. 10, sec. 2, effective June 18, 1970.