Kentucky HB 153: AN ACT relating to compensation of insurance producers for services performed in relation to a premium finance loan. Amend KRS 304.30-050 to authorize insurance producers of personal and commercial lines to receive payment for arranging insurance premium financing for an insured if the agent discloses the source and amount of compensation for the financing in writing to the insured and the insurance producer is not paid as an advance on future premium finance agreements or as a bonus from the premium finance company for agreeing to place agreements with the premium finance company.

Status: Signed by Governor (Acts, ch.106) (as of 2017-03-24)

State: Kentucky · Session: 2017RS · Bill: HB 153

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