2006 Kentucky Revised Statutes - .140   Standard provisions, in general.

304.14-140 Standard provisions, in general. (1) Insurance contracts shall contain such standard or uniform provisions as are required by the applicable provisions of this code pertaining to contracts of particular kinds of insurance. The executive director may waive the required use of a particular provision in a particular insurance policy form if: (a)  He finds such provision unnecessary for or unrelated to the protection of the insured and inconsistent with the purposes of the policy, and (b)  The policy is otherwise approved by him. (2) No policy shall contain any provision inconsistent with or contradictory to any standard or uniform provision used or required to be used, but the executive director may approve any substitute provision which is, in his opinion, not less favorable in any particular to the insured or beneficiary than the provisions otherwise required. (3) In lieu of the provisions required by this code for contracts for particular kinds of insurance, substantially similar provisions required by the law of the domicile of a foreign or alien insurer may be used when approved by the executive director. (4) A policy issued by a domestic insurer for delivery in another jurisdiction may contain any provision required or permitted by the laws of such jurisdiction. Effective: June 18, 1970 History:Created 1970 Ky. Acts ch. 301, subtit. 14, sec. 14, effective June 18, 1970. 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.