KRS 299.020: Companies deemed engaged in life or casualty insurance business upon the

cooperative or assessment plan.

(1) Any company that issues any certificate, policy or other evidence of interest to, or

makes any agreement with, its members, whereby any money, charity, relief, aid or

other benefit is to be paid, provided or rendered by the company to the member, or

to the legal representative of the member, or to a beneficiary designated by the

member, which benefit is derived from voluntary donations or from a dmission fees,

dues or assessments collected or to be collected from the members thereof, or

members of a class therein, and interests and accretions thereon, or rebates from

amounts payable to the beneficiaries or heirs, and wherein the paying, providing or

rendering of such benefit is conditioned upon its being realized in the manner

aforesaid, and wherein the benefit so realized is applied to the uses and purposes of

the company and the expenses of the management and prosecution of its business,

shall be deemed to be engaged in the business of insurance upon the cooperative or

assessment plan, and shall be subject only to the provisions of this chapter.

(2) If the benefits provided are conditioned upon the decease of a member, the company

shall be deemed to be engaged in the business of life insurance. If the benefits

provided are conditioned upon the sickness or other physical disability of a member,

but not by reason of his having attained a certain age, the company shall be deemed

to be engaged in the business of casualty insurance.