There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 19. Credit Life Insurance
304.19.082 Rates for credit health insurance coverage to credit union borrowers when coverage is not a loan condition.
Download pdfcondition of the loan, may use higher credit health insurance premium rates for
specific credit unions if the rates for those credit unions have been filed with the
commissioner, and within thirty (30) days of the filing the commissioner has not
disapproved the rate as excessive in relation to the benefits provided. (2) In determining whether to disapprove any rate, the commissioner shall give due consideration to the morbidity costs with respect to the insurance, a reasonable
margin for underwriting expenses, profits, contingencies and other reasonable costs
and expenses attributable to the insurer, and costs and compensation to the creditor
for providing and servicing the insurance, plus the premium taxes payable on the
insurance. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1303, effective July 15, 2010. -- Created 1996 Ky. Acts ch. 25, sec. 1, effective July 15, 1996.
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