A "mutual" insurer is an incorporated insurer without permanent capital stock, and the governing body of which is elected by its policyholders or those policyholders specified in its charter, or by any other reasonable method.
KRS 304.3-020
"Mutual" insurer defined
Known as the Controlling Agents Act
The act spans §§ 304.3-010 to 304.3-768 (79 sections).
Effective: June 18, 1970 History: Created 1970 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.