Three (3) or more domestic mutual or cooperative and assessment fire insurance companies may organize a reinsurance company to reinsure their risks by certifying to the commissioner their intention and filing with him certificates properly acknowledged showing the vote of the directors of the companies authorizing them to become members of the reinsurance company. The name of the reinsurance company shall be contained in the certificate to the commissioner and shall be approved by the commissioner. Such reinsurance company shall be a distinct corporation.
KRS 299.480
Organization of a reinsurance company by mutual or assessment and cooperative fire insurance companies
Effective: July 15, 2010 History: Amended 2010 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.