Kentucky Statutes 304.27-020 – Scope of subtitle — Existing insurers
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(1) All authorized reciprocal insurers shall be governed by those sections of this subtitle not expressly made applicable to domestic reciprocals.
(2) Existing authorized reciprocal insurers shall after June 18, 1970, comply with the provisions of this subtitle, and shall make such amendments to their subscribers’ agreement, power of attorney, policies and other documents and accounts and perform such other acts as may be required for such compliance.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 27, sec. 2, effective June 18, 1970.
(2) Existing authorized reciprocal insurers shall after June 18, 1970, comply with the provisions of this subtitle, and shall make such amendments to their subscribers’ agreement, power of attorney, policies and other documents and accounts and perform such other acts as may be required for such compliance.
Terms Used In Kentucky Statutes 304.27-020
- 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
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 27, sec. 2, effective June 18, 1970.