There is a newer version of the Kentucky Revised Statutes
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2011 Kentucky Revised Statutes
Subtitle 37. Insurance Holding Company Systems
304.37.545 Approval of policy credit, dividend, or distribution.


KY Rev Stat § 304.37.545 (1996 through Reg Sess) What's This?
Download pdf

304.37-545 Approval of policy credit, dividend, or distribution. No policyholder who is a member of a mutual insurance holding company shall receive because of a membership interest any payment of a policy credit, dividend, or other distribution unless the payment has been approved by the commissioner. The commissioner, after a public hearing, if satisfied the proposed payment is fair and equitable to policyholders who are members, may approve the proposed payment and may require as a condition of approval modification of the proposed payment as the commissioner finds necessary for the protection of policyholders. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1492, effective July 15, 2010. -- Created 1998 Ky. Acts ch. 546, sec. 10, effective July 15, 1998.

Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.