Kentucky Statutes 304.33-280 – List of assets — Liquidation of assets
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(1) List of assets required. As soon as practicable after the liquidation order, the liquidator shall prepare in duplicate a list of the insurer’s assets. The list shall be amended or supplemented as the court requires. One (1) copy shall be filed in the office of the clerk of the court having jurisdiction over the liquidation proceedings and one (1) copy shall be retained for the liquidator’s files. All amendments and supplements shall be similarly filed.
(2) Liquidation of assets. The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation as rapidly and economically as he can.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 33, sec. 28, effective June 18, 1970.
(2) Liquidation of assets. The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation as rapidly and economically as he can.
Terms Used In Kentucky Statutes 304.33-280
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 33, sec. 28, effective June 18, 1970.