Last Updated July 23, 2012
Enactments through the 2012 Extraordinary Session
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Terms & Conditions
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KRS Chapter 299.00
Terms & Conditions
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Construction of Chapter
.010 Definitions and application.
.015 Nature of policy to be stated on face.
.017 Effect of failure to operate for one year -- Termination of new licensing beginning July 15, 1998.
.019 Reporting and filing requirements.
Life and Casualty Insurance
.020 Companies deemed engaged in life or casualty insurance business upon the cooperative or assessment plan.
.030 Organization of a domestic company.
.040 Authorization of a domestic company to do business -- Requirements -- When may begin business.
.045 Subsequent licensure of assessment or cooperative life insurance companies prohibited.
.050 Guaranty fund -- Creation -- Investments -- Deposit of securities -- Use of fund -- Rights of holders of certificates.
.060 Emergency fund -- Creation -- Use -- Administration on discontinuance of business -- Reserve fund.
.070 Abandonment of charter by a company -- Period for which charter is in force.
.080 Repealed, 1950.
.090 Repealed, 1950.
.100 Annual meeting -- Adoption and amendment of bylaws -- Examination of books.
.110 Election of officers.
.120 Annual statement of condition.
.130 Application, rule or bylaw referred to as having bearing on contract must accompany policy -- Use as evidence -- Type size.
.140 Policy to state contract for payment -- Limit of amount -- Liability for payment.
.150 Insurable age -- Insurable interest -- Change of beneficiary.
.160 Notice of assessment -- Classification of expense.
.170 Examination of policyholder claiming benefits.
.180 Suspension of company from doing business on failure to pay loss -- Impounding of collections.
.190 Investigation and action against company failing to pay loss -- Court to close business and appoint receiver.
.200 Liability of officers of company failing to levy assessment to pay death claim.
.215 Fees of Department of Insurance.
Change of Life or Casualty
.220 Assessment or cooperative life or casualty company may change to stock or mutual plan.
.230 Meeting to change form of company -- Notice -- Vote necessary to change.
.240 Fixing amount and shares of capital stock -- Sale of stock.
.250 Requirements for reorganized company to begin business.
.260 Types of insurance that may be written by a reorganized company.
.270 Directors of reorganized company -- Election -- Powers.
.280 Handling of assessment policies previously written.
.290 Use of surplus of former company -- Assets and liabilities.
.300 Ascertainment and payment of interest of policyholders dissenting to change -- Additional reserve fund.
Insurance Other Than Life
.310 Organization of assessment or cooperative company to write certain insurance other than life -- Membership -- Preliminary bond.
.320 Authorization to do business -- Requirements.
.330 Territory in which company may do business -- Change -- Removal of office.
.340 Directors and officers -- Election -- Term of office -- Powers of directors -- Quorum -- Bonds.
.350 Annual meeting -- Votes -- Bylaws -- Books.
.360 Classification of insured property -- Separation of risks.
.370 Reserve fund -- Source -- Use -- Investment.
.380 Issuance of policies -- Amount of single risk limited by total insurance in force.
.390 Assessment contract -- Lien -- Notice and adjustment of loss.
.400 Collection and use of membership or policy fees -- Levy and collection of assessments.
.410 Notice of assessment -- Form and service.
.420 Maximum liability of policyholders for assessments.
.430 Action to collect unpaid assessments -- Exclusion of policyholder -- Refund.
.440 Withdrawal of member -- Admission of members after organization.
.450 Annual statement of condition.
.460 Examination of companies by commissioner -- Action against violators.
.470 Companies organized under a special charter.
.480 Organization of a reinsurance company by mutual or assessment and cooperative fire insurance companies.
.481 Renumbered as KRS 299.490, effective 1950.
.482 Renumbered as KRS 299.500, effective 1950.
.483 Renumbered as KRS 299.510, effective 1950.
.484 Renumbered as KRS 299.520, effective 1950.
.486 Renumbered as KRS 299.530, effective 1950.
.490 Admission and withdrawal of member companies of reinsurance company.
.500 Policies of reinsurance -- Rates -- Directors -- Liability of member companies -- Limitation of risks.
.510 Reinsurance of risks by mutual or assessment and cooperative fire insurance companies.
.520 Filing of copies of reinsurance contracts with the commissioner -- Inspection.
.530 Annual report on reinsurance premiums -- Tax on premiums paid to unauthorized companies.
.540 Fees of Department of Insurance.
.550 Change to mutual plan of company writing insurance other than life.