Kentucky Statutes 304.8-010 – Deposits of insurers
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(1) All deposits of assets of insurers required or permitted under this code and made in this state shall be made and maintained with the commissioner.
(2) In addition to deposits required for an insurer’s authority to transact insurance in this state, an insurer may deposit and maintain with the commissioner deposit of assets:
(a) Required of an insurer by the laws of other states as prerequisite for authority to transact insurance in such other states;
(b) Required by application of the retaliatory provision, KRS § 304.3-270; and
(c) In such additional amounts as is permitted by this subtitle, or as expressly required by this code.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1026, effective July 15, 2010. — Amended 2004 Ky. Acts ch. 24, sec. 18, effective July 13, 2004. — Created 1970 Ky. Acts ch. 301, subtit. 8, sec. 1, effective June 18, 1970.
(2) In addition to deposits required for an insurer’s authority to transact insurance in this state, an insurer may deposit and maintain with the commissioner deposit of assets:
Terms Used In Kentucky Statutes 304.8-010
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(a) Required of an insurer by the laws of other states as prerequisite for authority to transact insurance in such other states;
(b) Required by application of the retaliatory provision, KRS § 304.3-270; and
(c) In such additional amounts as is permitted by this subtitle, or as expressly required by this code.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1026, effective July 15, 2010. — Amended 2004 Ky. Acts ch. 24, sec. 18, effective July 13, 2004. — Created 1970 Ky. Acts ch. 301, subtit. 8, sec. 1, effective June 18, 1970.