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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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