AN ACT relating to insurance requirements for certain vehicle business licensees.

Amend KRS 190.033 to allow indemnifying bonds or insurance policies for certain vehicle business licensees to be issued by a nonadmitted insurer in accordance with the requirements of Subtitle 10 of KRS Chapter 304; make technical amendments.

Introduced: January 7, 2025

Last action: March 15, 2025

(Acts Ch. 12)

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This bill changes the rules for certain vehicle business licensees in Kentucky, allowing them to meet their bonding or insurance requirements through insurers that are not formally licensed in the state, as long as those insurers follow existing state regulations for such coverage. It also makes minor technical updates to the existing law. Who it may affect: businesses licensed to sell or deal in vehicles in Kentucky, such as car dealers.

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