KRS 154.20-540: Powers of insurance corporation.

The insurance corporation shall be empowered by its articles:

(1) To contract with the authority to insure loans, bonds or their debt service, made by

any lender or issuer to finance the acquisition, construction or alteration of any

eligible project;

(2) To enter into agreements for such insurance;

(3) To fix a rate or rates of premiums to be paid for such insurance by the person or

corporation assisted, which premiums shall be fixed to take into account the fact

that the authority has paid an assistance f ee to the insurance corporation as an

assistance to the person or corporation whose loan or bond is being insured; and

(4) To exercise such other powers as are necessary or incidental to the foregoing.