There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 24. Domestic Stock and Mutual Insurers
304.24.310 Participating policies.
Download pdfin profits, savings, unabsorbed portions of premiums, may classify policies issued
and risks insured on a participating and nonparticipating basis, and subject to KRS
304.15-380, may determine the right to participate and the extent of participation of
any class or classes of policies. Any such classification or determination shall be
reasonable. (2) A life insurer may issue both participating and nonparticipating policies or contracts, only if the right or absence of right to participate is reasonably related to
the premium charged. A combined stock and mutual life insurer shall only issue
participating policies or contracts in its "mutual" branch, and shall only issue
nonparticipating policies or contracts in its "stock" branch. (3) No dividend, otherwise earned, shall be made contingent upon the payment of renewal premium on any policy or contract. Effective: July 13, 1984
History: Amended 1984 Ky. Acts ch. 343, sec. 8, effective July 13, 1984. -- Created 1970 Ky. Acts ch. 301, subtit. 24, sec. 31, effective June 18, 1970.
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