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2009 Kentucky Revised Statutes
Subtitle 25. Continuity of Management
304.25.060 General provisions.

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304.25-060 General provisions. (1) Presumption. In any action or proceeding it shall be presumed that an acute emergency existing within this state constitutes an acute emergency affecting every <br>insurance organization doing business within this state. (2) Powers of board. During an acute emergency the board of a domestic insurance organization which has adopted emergency bylaws approved by the commissioner <br>shall have all of the powers conferred by such bylaws, and no other or different <br>powers with respect to the subject matter of this subtitle, and the board of a <br>domestic insurance organization which has not adopted emergency bylaws approved <br>by the commissioner shall have all of the powers of an emergency board of directors <br>as the same are provided for under this subtitle. Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 1366, effective July 15, 2010. -- Created 1970 Ky. Acts ch. 301, subtit. 25, sec. 6, effective June 18, 1970.

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