There is a newer version of the Kentucky Revised Statutes
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2009 Kentucky Revised Statutes
Subtitle 24. Domestic Stock and Mutual Insurers
304.24.320 Dividends to stockholders.

Download pdf


304.24-320 Dividends to stockholders. (1) An insurer shall not pay any dividend to stockholders except out of that part of its surplus funds which is derived from any realized net profits. No cash dividend shall <br>be paid nor distribution of assets made out of any surplus funds resulting from a <br>decrease of capital stock effective within two (2) years prior to the declaration of the <br>dividend. (2) &quot;Surplus funds&quot; means the excess of the insurer's assets over its liabilities, including its capital stock as a liability. Effective: June 18, 1970 <br>History: Created 1970 Ky. Acts ch. 301, subtit. 24, sec. 32, effective June 18, 1970.

Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.