Kentucky Statutes 304.8-110 – Inventory — Certificate
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(1) The commissioner may at any time inventory assets on deposit as to any insurer.
Upon request of the insurer the commissioner shall make an inventory at the insurer’s expense, and shall furnish the insurer a copy thereof. All inventories shall be made in the presence of the commissioner and two (2) representatives of the insurer designated for the purpose by its board of directors.
(2) Upon request, the commissioner shall give to any insurer depositing assets a certificate thereof describing the assets and setting forth their par value, if any, and their value, which valuation shall be determined by the commissioner.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1033, effective July 15, 2010. — Amended 2004 Ky. Acts ch. 24, sec. 24, effective July 13, 2004. — Created 1970 Ky. Acts ch. 301, subtit. 8, sec. 11, effective June 18, 1970.
Upon request of the insurer the commissioner shall make an inventory at the insurer’s expense, and shall furnish the insurer a copy thereof. All inventories shall be made in the presence of the commissioner and two (2) representatives of the insurer designated for the purpose by its board of directors.
Terms Used In Kentucky Statutes 304.8-110
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
(2) Upon request, the commissioner shall give to any insurer depositing assets a certificate thereof describing the assets and setting forth their par value, if any, and their value, which valuation shall be determined by the commissioner.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1033, effective July 15, 2010. — Amended 2004 Ky. Acts ch. 24, sec. 24, effective July 13, 2004. — Created 1970 Ky. Acts ch. 301, subtit. 8, sec. 11, effective June 18, 1970.