{"data":{"id":"us-ky/krs-247.9473","jurisdiction":"us-ky","citation":"KRS 247.9473","heading":"Corporation may insure and reinsure agricultural loans.","body":"(1) The corporation is hereby authorized to insure and reinsure agricultural loans made\nby lending institutions, subject to the terms, conditions, limitations, collateral and\nsecurity provisions, and reserve requirements as shall be determined by the\ncorporation in accordance with the rules and administrative regulations adopted by\nthe corporation.\n(2) Unless otherwise determined by the corporation, insurance on agricultural loans\nshall be in the amount of one hundred percent (100%) of the unpaid principal and\ninterest on each loan.\n(3) An insured agricultural loan shall be in default when the holder of the loan makes\napplication to the corporation for payment of insurance on the loan stating that the\nloan is in default in accordance with the terms of any agreem ent with respect to the\ninsurance executed pursuant to this section.\n(4) The corporation may enter into agreements with any person, lending institution, or\nholder of an insured agricultural loan upon the terms as may be agreed upon\nbetween the corporation and any person, lending institution, or holder, to provide\nfor the administration, applications therefor, repayment thereof, and to establish the\nconditions for payment of insurance by the corporation, and the servicing, suit upon,\nor foreclosure of insured agricultural loans.","path":["KRS Chapter 247"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=11860","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:00Z","sha256":"d405aabf762cfab2f498bb90caa6747cfb81353aa4220b7384a4ab240569a168","source_id":"us-ky","stale":false,"prev":"us-ky/krs-247.9471","next":"us-ky/krs-247.948"},"notice":"GroundRules: Original legal text. Not legal advice."}