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299.320 Authorization to do business -- Requirements.
Upon filing the required articles in the office of the commissioner, together with a sworn
statement by three (3) of the incorporators that bona fide agreements have been entered
into for the insurance of property of an amount not less than $100,000 within the territory
in which it proposes to do business, the articles shall be referred to and examined by the
Attorney General. If the articles are found by the Attorney General to be conformable to,
and not inconsistent with, the laws of this state, the Attorney General shall certify
accordingly, and return them, with a certificate of conformity, to the commissioner. The
commissioner shall cause the articles, with the certificate of the Attorney General, to be
recorded in a book kept for that purpose, and shall deliver to the company a certified copy
of the papers as filed and recorded in his office, and of the certificate of the Attorney
General, together with the license of the commissioner to the company to engage in the
business proposed in the articles. Upon the certified copy and license being filed in the
office of the clerk of the county in which the principal office of the company is to be
located, the incorporators and those that may thereafter become associated with them, and
their successors, shall constitute a body politic and corporate, and be lawfully entitled to
begin business.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 893, effective July 15, 2010. -Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat.
sec. 704.
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