A "combined stock and mutual life" insurer is an incorporated insurer with capital divided into shares owned by its shareholders, but which is controlled by the votes both of its stockholders and of its participating policyholder members to the extent any such rights of membership are granted and specified in the insurer's policies or its articles of incorporation.
KRS 304.3-025
"Combined stock and mutual life" insurer defined
Known as the Controlling Agents Act
The act spans §§ 304.3-010 to 304.3-768 (79 sections).
Effective: July 13, 1984 History: Created 1984 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.