Kentucky Statutes 304.24-180 – Rights of mutual members in general
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(1) A domestic mutual insurer is owned by and shall be operated in the interest of its members.
(2) With respect to the management, records and affairs of the insurer, a member of a mutual insurer shall have the same character of rights and relationship as a stockholder has toward a domestic stock insurer, subject to the provisions of this code.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 24, sec. 18, effective June 18, 1970.
(2) With respect to the management, records and affairs of the insurer, a member of a mutual insurer shall have the same character of rights and relationship as a stockholder has toward a domestic stock insurer, subject to the provisions of this code.
Terms Used In Kentucky Statutes 304.24-180
- Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 24, sec. 18, effective June 18, 1970.