There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 7. Investments
304.7.409 Equity interests in business entities.
Download pdfby the insurer under this section would exceed twenty percent (20%) of its admitted
assets, or the amount of equity interests then held by the insurer that are not listed
on a qualified exchange would exceed five percent (5%) of its admitted assets. An
accident and health insurer shall not be subject to this section but shall be subject to
the same aggregate limitation on equity interests as a property and casualty insurer
under KRS 304.7-461 and also to the provisions of KRS 304.7-453. (3) An insurer shall not acquire under this section any investment that the insurer may acquire under KRS 304.7-413. (4) An insurer shall not short sell equity investments unless the insurer covers the short sale by owning the equity investment or an unrestricted right to the equity
instrument exercisable within six (6) months of the short sale. Effective: July 14, 2000
History: Created 2000 Ky. Acts ch. 388, sec. 11, effective July 14, 2000.
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