2006 Kentucky Revised Statutes - .060   General provisions.

304.25-060 General provisions. (1) Presumption. In any action or proceeding it shall be presumed that an acute emergency existing within this state constitutes an acute emergency affecting every insurance organization doing business within this state. (2) Powers of board. During an acute emergency the board of a domestic insurance organization which has adopted emergency bylaws approved by the executive director shall have all of the powers conferred by such bylaws, and no other or different powers with respect to the subject matter of this subtitle, and the board of a domestic insurance organization which has not adopted emergency bylaws approved by the executive director shall have all of the powers of an emergency board of directors as the same are provided for under this subtitle. Effective: June 18, 1970 History:Created 1970 Ky. Acts ch. 301, subtit. 25, sec. 6, effective June 18, 1970. 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.