KRS 299.510: Reinsurance of risks by mutual or assessment and cooperative fire

insurance companies.

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

assessment fire insurance company, without amending its charter or articles of

incorporation, may by policy, treaty or other agreement, cede to or accept from any

other insurance company or insurer, insurance or reinsurance upon the whole or any

part of any risk provided such other insurance companies or insurers shall at all

times mainta in the full standards of solvency required under laws of this state of

like insurance companies or insurers.

(2) KRS 299.510 to 299.530 shall not empower any such mutual fire insurance

company or any such cooperative and assessment fire insurance company to assume

or carry insurance or reinsurance on any risk or class of risks prohibited in its

charter, articles of incorporation or bylaws.