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KRS 304.7-250

Special investments of title insurers

Effective: June 18, 1970 History: Created 1970 Ky

(1) A title insurer may also have invested funds in an amount not exceeding fifty percent (50%) of its paid-in capital stock and its surplus, in its abstract plant and equipment and in stocks of abstract companies.

(2) A title insurer may also invest and have invested at any one time not in excess of twenty percent (20%) of its assets in loans to abstract companies, which loans are adequately secured as to principal and interest by chattel mortgages upon the books, maps, files, abstract records and other personal property of the mortgagor.

(3) Investments authorized under subsections (1) and (2) of this section shall not be credited against required reserves.

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