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KRS 304.33-470

Termination of proceedings

Known as the Insurers Rehabilitation and Liquidation Law

The act spans §§ 304.33-010 to 304.33-600 (68 sections).

Effective: June 18, 1970 History: Created 1970 Ky

(1) Liquidator's application. When all assets justifying the expense of collection and distribution have been collected and distributed under this subtitle, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders deemed appropriate, including an order to transfer to the State Treasury for the common school fund any remaining funds that are uneconomic to distribute.

(2) Application by others. Any other person may apply to the court at any time for an order under subsection (1) of this section. If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.