KRS 299.490: Admission and withdrawal of member companies of reinsurance company.

(1) Any domestic mutual or assessment and cooperative fire insurance company may,

with the consent of the directors of the reinsurance company, become a member

thereof by filing with the commissioner a certificate of its intention and a certificate

showing the vote of its directors authorizing it to become a member of the

reinsurance company.

(2) Any member company may, by paying its proportion of the liabilities of the

reinsurance company then existing, withdraw its membership from a reinsurance

company. The m ember company shall certify to the commissioner its intention to

withdraw its membership, and give written notice to the secretary of the reinsurance

company of its intention to withdraw thirty (30) days in advance. Upon withdrawal

of any member company th e reinsurance company shall at once cancel all policies

of insurance held by and through the company withdrawing.