There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 19. Credit Life Insurance
304.19.040 Amounts of credit life insurance.
Download pdfrepayable in substantially equal installments, the amount of insurance shall at no
time exceed the scheduled or actual amount of unpaid indebtedness, whichever is
greater, provided that in the case of a group policy the amount of insurance may be
reduced annually or at more frequent intervals, by a level percentage. (2) Notwithstanding subsection (1) of this section, insurance on agricultural credit transaction commitments not exceeding one (1) year in duration may be written up
to the amount of the loan commitment, on a nondecreasing or level term plan. (3) Notwithstanding subsection (1) of this section, insurance on educational credit transaction commitments may be written for the amount of the portion of such
commitment that has not been advanced by the creditor. Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 19, sec. 4, effective June 18, 1970.
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