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2009 Kentucky Revised Statutes
Subtitle 22. Title Insurance Contracts
304.22.040 Prohibition against guaranteeing obligations executed by others -- Exceptions.

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304.22-040 Prohibition against guaranteeing obligations executed by others -- Exceptions. An insurer shall not in any manner guarantee the payment of the principal or the interest <br>of bonds or other obligations executed by others, other than (a) in connection with the <br>handling of litigation relating to losses or claims involving the insurer, its insureds, its <br>agents or its attorneys, or (b) in connection with the settlement of such losses or claims, <br>or (c) in the event such guarantee is specifically approved by the commissioner. Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 1321, effective July 15, 2010. -- Amended 1972 Ky. Acts ch. 318, sec. 1, effective June 16, 1972. -- Created 1970 Ky. <br>Acts ch. 301, subtit. 22, sec. 4, effective June 18, 1970.

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