There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 37. Insurance Holding Company Systems
304.37.580 Prohibited ownership interests -- Prohibited acquisition offer to acquire.
Download pdfthan eighteen percent (18%) of the voting stock of the insurance company
subsidiary of a mutual insurance holding company, an intermediate holding
company subsidiary of a mutual insurance company, or an insurance company
subsidiary of an intermediate holding company subsidiary to a mutual insurance
holding company. (2) This subsection applies to directors of the mutual insurance holding company and its subsidiaries and affiliates. These directors shall not purchase or beneficially own,
in the aggregate, more than three percent (3%) of the voting stock of an insurance
company subsidiary of a mutual insurance company or an insurance company
subsidiary of an intermediate holding company subsidiary to a mutual insurance
holding company. (3) No person may directly or indirectly offer to acquire or acquire, in any manner, beneficial ownership of more than fifteen percent (15%) of any class of voting
securities of an insurance company subsidiary of a mutual insurance holding
company, an intermediate holding company subsidiary of a mutual insurance
company, or an insurance company subsidiary of an intermediate holding company
subsidiary to a mutual insurance holding company. Effective: July 15, 1998
History: Created 1998 Ky. Acts ch. 546, sec. 17, effective July 15, 1998.
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.