Kentucky Statutes 304.27-200 – Subscriber’s liability on judgments
Current as of: 2024 | Check for updates
|
Other versions
(1) No action shall lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the insurer and remains unsatisfied for thirty (30) days.
(2) Any such judgment shall be binding upon each subscriber only in such proportion as his interest may appear and in an amount not exceeding his contingent liability, if any.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 27, sec. 20, effective June 18, 1970.
(2) Any such judgment shall be binding upon each subscriber only in such proportion as his interest may appear and in an amount not exceeding his contingent liability, if any.
Terms Used In Kentucky Statutes 304.27-200
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 27, sec. 20, effective June 18, 1970.