2006 Kentucky Revised Statutes - .130   Deposit of securities.

303.130 Deposit of securities. Each burial association shall deposit with the custodian of insurance securities securities to the amount of not less than $100,000, to be held for the benefit of its policyholders. These securities shall be of the kind in which domestic life insurance companies are allowed by law to invest their capital. Associations shall have, at all times, on approval of the executive director, the right to exchange any part of the securities for other of like amount or character. Effective: October 1, 1942 History:Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 199a-13. Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section.