806 KAR 7:020. Person defined.
RELATES TO: KRS 304.7-010-304.7-350
STATUTORY AUTHORITY: KRS 304.2-110
NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110 provides that the Executive Director of Insurance may make reasonable rules and administrative regulations necessary for or as an aid to the effectuation of any provision of the Kentucky Insurance Code. The function of this administrative regulation is to apply the definition of "person" to the investments subtitle of the Insurance Code.
Section 1. The executive director may, upon a finding that any group of corporations or other legal entities (other than the insurer and its affiliates) are under common ownership and/or control; either directly or indirectly, consider said combined group of entities as "one (1) person" for purposes of determining compliance with this section. (I-7.02; 1 Ky.R. 859; eff. 5-14-75; TAm eff. 8-9-2007.)