The proportion of total subsidence insurance premiums collected by each insurer which shall be retained by the insurer as a ceding commission shall be fixed by the administrator. The remainder of the premiums shall be remitted by the insurer to the administrator. The ceding commission shall be based on reasonable administrative costs to the insurer, including agents’ commissions.
Effective: July 13, 1984

Terms Used In Kentucky Statutes 304.44-070

  • Administrator: means the organization designated by the commissioner of the department to administer the fund. See Kentucky Statutes 304.44-010
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.

History: Created 1984 Ky. Acts ch. 167, sec. 7, effective July 13, 1984.

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