Kentucky Statutes 304.10-150 – May accept business from agents
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A licensed surplus lines broker may accept and place surplus lines business for any insurance agent licensed in this state for the kind of insurance involved, and may compensate the agent therefor.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 10, sec. 15, effective June 18, 1970.
Effective: June 18, 1970
Terms Used In Kentucky Statutes 304.10-150
- agent: includes managing general agent unless the context requires otherwise. See Kentucky Statutes 304.9-085
- Broker: means a surplus lines broker duly licensed as such under this subtitle. See Kentucky Statutes 304.10-030
- 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
History: Created 1970 Ky. Acts ch. 301, subtit. 10, sec. 15, effective June 18, 1970.