Summary of Original Version

Amend KRS 367.620 to define terms; amend KRS 367.622 to establish right to cancel a real estate goods or services contract within five business days after an insurer's notice of noncoverage; amend KRS 367.624 to establish notice requirements for real estate goods or services contracts; amend KRS 367.626 to establish cancellation and other requirements for real estate goods or services contracts; amend KRS 367.627 and 367.628 to establish penalties and requirements relating to real estate goods or services trade practices associated with property and casualty insurance; provide that the Act applies to contracts entered on or after the effective date of the Act.

Summary of Amendment: House Committee Substitute 1

Summary Retain original provisions; create a new section of KRS 367.620 to 367.628 to provide a construction clause; amend KRS 371.160 and KRS 371.425 to conform.

Statutes affected:
Introduced: 367.620, 367.622, 367.624, 367.626, 367.627, 367.628
House Committee Substitute 1: 367.620, 367.622, 367.624, 367.626, 367.627, 367.628, 371.160, 371.425