329A.050 Change of ownership -- Agent who ceases to perform duties.
154 words·~1 min read·
/ky/chapter-329a/329a-050A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)If the ownership of an investigating company changes, the new owner, if not already
a licensee, shall not operate that company more than thirty
(30)days after the date
of the ownership change unless, within the thirty
(30)day period, the new owner
submits an application for a license.
(a)If the application is submitted, the new owner may continue to operate the
company until the application has been finally determined by the board.
(b)The board may extend for a reasonable time the period for submitting an
application under this subsection.
(2)If the qualifying agent of a company ceases to perform the duties of an agent on a
regular basis, the licensee shall notify the board by certified or registered mail
within thirty
(30)days and substitute a new qualifying agent within ninety
days. The board may extend for a reasonable time the period for obtaining a
substitute qualifying agent.