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299.120 Annual statement of condition.
Every company shall, by March 1 of each year, make and file with the commissioner
a report of its affairs and operations during the year ending on December 31
immediately preceding. The report shall be upon blank forms provided by the
commissioner, and shall be verified under oath by the duly authorized officers of the
company, and the commissioner shall publish it, or its substance, in his annual
report. This annual report shall contain the following information: The number of
policies issued or members admitted during the year; the amount of indemnity
effected thereby; the number of death losses; the number of death losses paid; the
amount received from each assessment in each class for the year; the total amount
paid policyholders, beneficiaries, legal representatives or heirs; the number of death
claims for which assessments have been made; the number of death claims
compromised or resisted, and a brief statement of the reason; whether the company
charges annual dues, and if so, how much on each one thousand dollars ($1,000)
annually, or per capita, as the case may be; the total amount received and the
disposition thereof; whether the company uses money received for payment of death
claims to pay expenses, in whole or in part, and if so, the amount so used; the total
amount of salaries paid to officers; whether the company guarantees a fixed amount
to be paid regardless of the amount realized from assessments, dues, admission
fees and donations, and if so, the amount guaranteed and the security for such
guarantee; whether the company has a reserve fund, and if so, how the reserve fund
is created and for what purpose, the amount thereof and how invested; whether the
company has more than one (1) class, and if so, how many, the amount of indemnity
in each class, and the number of members in each class; if organized under the laws
of this state, under what law and at what time; the number of policies or
memberships lapsed during the year; the number of policies or memberships in
force at the beginning and end of the year in each class; the aggregate maximum,
minimum and average age of membership in each class; the assets applicable to life
or casualty insurance, other than reserve fund, and how invested; and the amount
received from all sources for life or casualty insurance and the disposition thereof.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 885, effective July 15, 2010. -Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 666.
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