§ 304.24-010 Scope
§ 304.24-020 Definitions
§ 304.24-030 Applicability of general corporation statutes
§ 304.24-040 Incorporation of domestic stock, combined stock and mutual life, or mutual insurers — Votes allotted to stockholders and policyholders
§ 304.24-050 Procedures preliminary to qualification
§ 304.24-060 Qualification of newly organized stock insurer
§ 304.24-070 Completion of incorporation — General powers and duties
§ 304.24-080 Amendment of articles of incorporation — Mutual insurers
§ 304.24-090 Amendment of articles of incorporation — Stock insurers
§ 304.24-095 Articles of incorporation of a combined stock and mutual life insurance company — Possible amendments
§ 304.24-100 Formation of mutual — Initial qualifications
§ 304.24-110 Formation of mutual — Bond
§ 304.24-120 Formation of mutual — Applications for insurance
§ 304.24-130 Formation of mutual — Trust deposit of premiums
§ 304.24-140 Formation of mutual — Failure to qualify
§ 304.24-150 Additional kinds of insurance — Mutuals
§ 304.24-160 Membership in mutuals
§ 304.24-170 Bylaws of mutual
§ 304.24-180 Rights of mutual members in general
§ 304.24-190 Meetings of members of mutual insurer
§ 304.24-200 Special meetings of members of mutual insurer
§ 304.24-210 Voting rights of mutual members
§ 304.24-220 Contingent liability of mutual member
§ 304.24-230 Levy of contingent liability
§ 304.24-240 Enforcement of contingent liability
§ 304.24-250 Nonassessable policies — Mutual insurers
§ 304.24-260 Nonassessable policies — Revocation of authority
§ 304.24-270 Prohibited pecuniary interests
§ 304.24-280 Management and exclusive agency contracts
§ 304.24-290 Principal office — Records
§ 304.24-300 Borrowed surplus
§ 304.24-310 Participating policies
§ 304.24-320 Dividends to stockholders
§ 304.24-330 Dividends to policyholders
§ 304.24-340 Issuance of policies in other states
§ 304.24-350 Impairment of capital or assets
§ 304.24-360 Mutualization of stock insurer
§ 304.24-370 Conversion of stock insurer to ordinary business corporation
§ 304.24-390 Merger — Consolidation of insurers
§ 304.24-400 Affiliations of stock insurers
§ 304.24-415 Report disclosing material acquisitions and dispositions of assets, nonrenewals, cancellations, or revisions of ceded reinsurance agreements — Exceptions
§ 304.24-420 Bulk reinsurance
§ 304.24-430 Voluntary dissolution
§ 304.24-440 Mutual member’s share of assets on liquidation
§ 304.24-500 Approval of foreign insurer as domestic insurer — Transfer of domicile of domestic insurer to another state — Continuance of certificate of authority upon transfer of corporate domicile after merger or consolidation
§ 304.24-600 Conversion of domestic mutual insurer to stock insurer
§ 304.24-601 Definitions for KRS 304.24-600 to 304.24-625
§ 304.24-603 Amendment of articles of incorporation — Plan of conversion
§ 304.24-605 Application for approval of plan of conversion — Actuarial opinion
§ 304.24-607 Commissioner’s review of plan of conversion — Hearing and comments — Approval or disapproval
§ 304.24-609 Findings requiring commissioner’s approval of plan — Hiring of experts — Deposits in anticipation of expenses — Commissioner may consider effect of insurer’s past actions
§ 304.24-611 Vote on plan of conversion and proposed amendments — Meeting of members — Notice of right to vote and accompanying materials — Voting by proxy
§ 304.24-613 Effect of conversion
§ 304.24-615 Consideration distributed to eligible members
§ 304.24-617 Fairness of method or formula in plan of conversion
§ 304.24-619 Dividend preservation provisions
§ 304.24-621 Use of closed block to preserve dividend expectations
§ 304.24-623 Acquisition of beneficial ownership of voting securities after conversion
§ 304.24-625 Sale or issuance of stock or other security after conversion

Terms Used In Kentucky Statutes > Chapter 304 > Subtitle 24 - Domestic Stock and Mutual Insurers

  • Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
  • agent: includes managing general agent unless the context requires otherwise. See Kentucky Statutes 304.9-085
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney: means attorney-at-law. See Kentucky Statutes 446.010
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
  • City: includes town. See Kentucky Statutes 446.010
  • Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
  • 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
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Month: means calendar month. See Kentucky Statutes 446.010
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
  • Personal property: All property that is not real property.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • public funds: means sums actually received in cash or negotiable instruments from all sources unless otherwise described by any state agency, state- owned corporation, university, department, cabinet, fiduciary for the benefit of any form of state organization, authority, board, bureau, interstate compact, commission, committee, conference, council, office, or any other form of organization whether or not the money has ever been paid into the Treasury and whether or not the money is still in the Treasury if the money is controlled by any form of state organization, except for those funds the management of which is to be reported to the Legislative Research Commission pursuant to KRS §. See Kentucky Statutes 446.010
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
  • Treatment: when used in a criminal justice context, means targeted interventions
    that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
  • Trustee: A person or institution holding and administering property in trust.
  • Violate: includes failure to comply with. See Kentucky Statutes 446.010
  • Year: means calendar year. See Kentucky Statutes 446.010