Kentucky Statutes 304.27-050 – Attorney
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(1) “Attorney,” as used in this subtitle, refers to the attorney-in-fact of a reciprocal insurer. The attorney may be an individual, firm or corporation.
(2) The attorney of a foreign reciprocal insurer, which insurer is duly authorized to transact insurance in this state, shall not, by virtue of discharge of its duties as such attorney with respect to the insurer’s transactions in this state, be thereby deemed to be doing business in this state within the meaning of any laws of this state applying to foreign persons, firms or corporations.
(3) The subscribers and the attorney-in-fact comprise a reciprocal insurer and a single entity for the purposes of Subtitle 24 as to all operations under the insurer’s certificate of authority.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 27, sec. 5, effective June 18, 1970.
(2) The attorney of a foreign reciprocal insurer, which insurer is duly authorized to transact insurance in this state, shall not, by virtue of discharge of its duties as such attorney with respect to the insurer’s transactions in this state, be thereby deemed to be doing business in this state within the meaning of any laws of this state applying to foreign persons, firms or corporations.
Terms Used In Kentucky Statutes 304.27-050
- Attorney: as used in this subtitle , refers to the attorney-in-fact of a reciprocal insurer. See Kentucky Statutes 304.27-050
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) The subscribers and the attorney-in-fact comprise a reciprocal insurer and a single entity for the purposes of Subtitle 24 as to all operations under the insurer’s certificate of authority.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 27, sec. 5, effective June 18, 1970.