There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 37. Insurance Holding Company Systems
304.37.575 Prohibited practices.
Download pdf(1) Borrowing funds from the mutual insurance holding company, or its subsidiaries and affiliates, to finance the purchase of any portion of a stock offering; (2) Payment of commissions, "special fees," and any other special payment or extraordinary compensation to officers, directors, interested persons, and affiliates,
for arranging, promoting, aiding, or assisting in reorganization to a mutual
insurance holding company, or for arranging, promoting, aiding, assisting, or
participating in the structuring and placement of a stock offering; and (3) Entering into an understanding or agreement transferring legal or beneficial ownership of stock to another person in avoidance of these rules. Effective: July 15, 1998
History: Created 1998 Ky. Acts ch. 546, sec. 16, effective July 15, 1998.
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