Kentucky Statutes 304.3-010 – “Stock” insurer defined
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A “stock” insurer is an incorporated insurer with its capital divided into shares and owned by its shareholders. Any company chartered by special act of the legislature of its state of domicile prior to June 18, 1970, as a company without capital stock but doing business exclusively on the stock plan, and so stated on its policies, and maintaining at all times surpluses as required by this code, shall in the administration of this code be considered as a “stock” insurer.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 3, sec. 1, effective June 18, 1970.
Effective: June 18, 1970
Terms Used In Kentucky Statutes 304.3-010
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. 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
History: Created 1970 Ky. Acts ch. 301, subtit. 3, sec. 1, effective June 18, 1970.