299.990 Penalties.

164 words·~1 min read·/ky/chapter-299/299-990

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Any officer, manager, director or agent of a domestic company who consents to aid

or promotes any transfer or reinsurance of a risk in violation of KRS 299.210 shall

be fined not more than five hundred dollars ($500).

(2)Any officer or director who fails to comply with any of the provisions of subsection

(3)of KRS 299.400 shall be fined not less than fifty dollars ($50) nor more than one

thousand dollars ($1,000) for each offense. Each thirty

(30)days that an action

required by that subsection is delayed shall be deemed a separate offense.

(3)Any officer of a company, as defined in subsection

(4)of KRS 299.010, who

violates any of the provisions of KRS 299.310 to 299.470, except subsection

(3)of

KRS 299.400, shall be fined not less than ten dollars ($10) nor more than five

hundred dollars ($500). He shall also be personally liable for any loss caused by

such violation, either to the company or any member.