Kentucky Statutes 304.47-025 – Felony offense involving dishonesty or breach of trust — Fraudulent insurance act — Penalties
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(1) Any person who has been convicted of any felony offense involving dishonesty or a breach of trust, or who has been convicted of a fraudulent insurance act under this subtitle, and who knowingly engages or participates in the business of insurance in this Commonwealth, shall be guilty of a Class D felony.
(2) Any insurer that knowingly permits the participation in the business of insurance in this Commonwealth by a person who has been convicted of any felony offense involving dishonesty or a breach of trust, or who has been convicted of a fraudulent insurance act under this subtitle, shall be guilty of a criminal violation.
For details, see § 532.060
(3) Any person who has been convicted of any felony offense involving dishonesty or a breach of trust, or who has been convicted of a fraudulent insurance act under this subtitle, may engage in the business of insurance in this Commonwealth if he or she has received written consent from the commissioner, and that consent specifically refers to this subsection.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1583, effective July 15, 2010. — Created
2000 Ky. Acts ch. 253, sec. 1, effective July 14, 2000.
(2) Any insurer that knowingly permits the participation in the business of insurance in this Commonwealth by a person who has been convicted of any felony offense involving dishonesty or a breach of trust, or who has been convicted of a fraudulent insurance act under this subtitle, shall be guilty of a criminal violation.
Attorney's Note
Under the Kentucky Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class D felony | between 1 and 5 years | between $1,000 and $10,000 |
(3) Any person who has been convicted of any felony offense involving dishonesty or a breach of trust, or who has been convicted of a fraudulent insurance act under this subtitle, may engage in the business of insurance in this Commonwealth if he or she has received written consent from the commissioner, and that consent specifically refers to this subsection.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1583, effective July 15, 2010. — Created
2000 Ky. Acts ch. 253, sec. 1, effective July 14, 2000.