There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 24. Domestic Stock and Mutual Insurers
304.24.060 Qualification of newly organized stock insurer.
Download pdfcorporation to ascertain whether it has complied with requirements of law and has
fully paid-in capital stock and assets in amount necessary to qualify for authority to
transact the kind or kinds of insurance proposed to be transacted. As a part of such
examination the commissioner shall require the incorporators or directors to certify,
under oath, that assets exhibited to him or her are the bona fide property of the
proposed corporation. (2) If after such examination the commissioner finds that the proposed corporation is fully entitled thereto, the commissioner shall issue to it his or her certificate of
authority to transact the kind or kinds of insurance for which it has qualified. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1323, effective July 15, 2010. -- Created 1970 Ky. Acts ch. 301, subtit. 24, sec. 6, effective June 18, 1970.
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