Kentucky Revised Statutes (Last Updated: May 10, 2014) |
TITLE XXV. BUSINESS AND FINANCIAL INSTITUTIONS |
CHAPTER 304. INSURANCE CODE |
Subtitle 24. Domestic Stock and Mutual Insurers |
24-010. Scope. |
24-020. Definitions. |
24-030. Applicability of general corporation statutes. |
24-040. Incorporation of domestic stock, combined stock and mutual life, or mutual insurers -- Votes allotted to stockholders and policyholders. |
24-050. Procedures preliminary to qualification. |
24-060. Qualification of newly organized stock insurer. |
24-070. Completion of incorporation -- General powers and duties. |
24-080. Amendment of articles of incorporation -- Mutual insurers. |
24-090. Amendment of articles of incorporation -- Stock insurers. |
24-095. Articles of incorporation of a combined stock and mutual life insurance company -- Possible amendments. |
24-100. Formation of mutual -- Initial qualifications. |
24-110. Formation of mutual -- Bond. |
24-120. Formation of mutual -- Applications for insurance. |
24-130. Formation of mutual -- Trust deposit of premiums. |
24-140. Formation of mutual -- Failure to qualify. |
24-150. Additional kinds of insurance -- Mutuals. |
24-160. Membership in mutuals. |
24-170. Bylaws of mutual. |
24-180. Rights of mutual members in general. |
24-190. Meetings of members of mutual insurer. |
24-200. Special meetings of members of mutual insurer. |
24-210. Voting rights of mutual members. |
24-220. Contingent liability of mutual member. |
24-230. Levy of contingent liability. |
24-240. Enforcement of contingent liability. |
24-250. Nonassessable policies -- Mutual insurers. |
24-260. Nonassessable policies -- Revocation of authority. |
24-270. Prohibited pecuniary interests. |
24-280. Management and exclusive agency contracts. |
24-290. Principal office -- Records -- Assets. |
24-300. Borrowed surplus. |
24-310. Participating policies. |
24-320. Dividends to stockholders. |
24-330. Dividends to policyholders. |
24-340. Issuance of policies in other states. |
24-350. Impairment of capital or assets. |
24-360. Mutualization of stock insurer. |
24-370. Conversion of stock insurer to ordinary business corporation. |
24-380. Repealed, 2000 . [Repealed] |
24-390. Merger -- Consolidation of insurers. |
24-400. Affiliations of stock insurers. |
24-410. Repealed, 2000. [Repealed] |
24-415. Report disclosing material acquisitions and dispositions of assets, nonrenewals, cancellations, or revisions of ceded reinsurance agreements -- Exceptions. |
24-420. Bulk reinsurance. |
24-430. Voluntary dissolution. |
24-440. Mutual member's share of assets on liquidation. |
Insurer Demutualization |
24-600. Conversion of domestic mutual insurer to stock insurer. |
24-601. Definitions for KRS 304.24-600 to 304.24-625. |
24-603. Amendment of articles of incorporation -- Plan of conversion. |
24-605. Application for approval of plan of conversion -- Actuarial opinion. |
24-607. Commissioner's review of plan of conversion -- Hearing and comments -- Approval or disapproval. |
24-609. Findings requiring commissioner's approval of plan -- Hiring of experts -- Deposits in anticipation of expenses -- Commissioner may consider effect of insurer's past actions. |
24-611. Vote on plan of conversion and proposed amendments -- Meeting of members -- Notice of right to vote and accompanying materials -- Voting by proxy. |
24-613. Effect of conversion. |
24-615. Consideration distributed to eligible members. |
24-617. Fairness of method or formula in plan of conversion. |
24-619. Dividend preservation provisions. |
24-621. Use of closed block to preserve dividend expectations. |
24-623. Acquisition of beneficial ownership of voting securities after conversion. |
24-625. Sale or issuance of stock or other security after conversion. |