Terms Used In Kentucky Statutes > Chapter 304 > Subtitle 44 - Mine Subsidence Insurance

• Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
• Administrator: means the organization designated by the commissioner of the department to administer the fund. See Kentucky Statutes 304.44-010
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Attorney: means attorney-at-law. See Kentucky Statutes 446.010
• City: includes town. See Kentucky Statutes 446.010
• Contract: A legal written agreement that becomes binding when signed.
• 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
• Department: means the Department of Insurance. See Kentucky Statutes 304.44-010
• Federal: refers to the United States. See Kentucky Statutes 446.010
• 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.
• Fraud: Intentional deception resulting in injury to another.
• fund: means the fund established by this subtitle and administered as determined by the department. See Kentucky Statutes 304.44-010
• Mine subsidence: means the collapse of underground coal mines resulting in direct damage to a structure. See Kentucky Statutes 304.44-010
• Month: means calendar month. See Kentucky Statutes 446.010
• 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.
• Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
• Policy: means a contract of insurance providing mine subsidence insurance. See Kentucky Statutes 304.44-010
• Premium: means the gross rate charged policyholders for insurance provided by this subtitle. See Kentucky Statutes 304.44-010
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• 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.
• 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.
• Structure: means any dwelling, building, or fixture permanently affixed to realty, but does not include land, trees, plants, or crops. See Kentucky Statutes 304.44-010
• Year: means calendar year. See Kentucky Statutes 446.010