KRS 304.25-020: Definitions -- Interpretation of subtitle.

(1) When used in this subtitle, the following terms shall mean and include the

following:

(a) Acting director. Acting director means an acting director elected or appointed

in accordance with this subtitle;

(b) Acting officer. Acting officer means an acting officer appointed in accordance

with this subtitle;

(c) Acute emergency. Acute emergency means a period, as formally declared and

proclaimed by the Governor of this state, in which, by reason of loss of life,

epidemic disease, destruction or damage of proper ty, contamination of

property by radiological, chemical, or bacteriological means, or disruption of

the means of transportation or communication, resulting from an attack, it is

impossible or impractical for the business of insurance in this state to be

conducted in strict accord with the provision of law or charter applicable

thereto;

(d) Attack. Attack means any attack, actual or imminent, or series of attacks by an

enemy or a foreign nation upon the United States causing, or which may

cause, substantial damage or injury to civilian property or persons in the

United States in any manner by sabotage or by the use of bombs, shell fire, or

atomic, radiological, chemical, bacteriological, or biological means, or other

weapons or processes;

(e) Board. Board mea ns the board of directors, board of trustees, committee, or

similar body having control of the affairs of an insurance organization;

(f) Charter. Charter means the certificate of organization or incorporation or

special law incorporating a corporation toge ther with its bylaws, or the

agreement establishing a fund or association together with its constitution and

bylaws;

(g) Commissioner. Commissioner means the commissioner of the Department of

Insurance or person duly designated to exercise the powers of th at department

during an attack or acute emergency;

(h) Director. Director means a director, trustee, or member of a board;

(i) Domestic organization. Domestic organization means any insurance

organization which is domiciled in this state;

(j) Insurance org anization. Insurance organization means any insurer, rating

organization, service or advisory organization, joint underwriting association,

which is subject, in whole or in part, to the insurance laws of this state;

(k) Officer. Officer means an officer of a domestic insurance organization; and

(l) Quorum. Quorum means the minimum number of directors required by

charter and bylaw, exclusive of the provisions of this subtitle, to be present for

valid action to be taken at a meeting of a board with respect to each particular

item of business which may come before such meeting.

(2) This subtitle does not and shall not be construed to limit the powers of, or permit or

require, any insurance organization which is not domiciled in this state or of any

branch office, or agents of such insurance organization, or the directors, officers,

members, policyholders, or stockholders of any such organization to act, or fail to

act, in such fashion as would violate the laws of the jurisdiction wherein such

organization has its domicile.