2006 Kentucky Revised Statutes - .380   Premium credit or discount provision for buildings equipped with an automatic sprinkler system.

304.20-380 Premium credit or discount provision for buildings equipped with an automatic sprinkler system. Every property insurer, as defined in this chapter, authorized to do business in this state shall include a premium credit or discount provision in its rates filed with the executive director for buildings equipped with an automatic sprinkler system. The amount of the discount shall reflect the cost savings the insurer expects to realize in insuring property equipped with automatic sprinkler systems. Effective: June 21, 2001 History:Created 2001 Ky. Acts ch. 29, sec. 1, effective June 21, 2001. 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. Page 1 of 1