{"data":{"id":"us-ky/krs-299.020","jurisdiction":"us-ky","citation":"KRS 299.020","heading":"Companies deemed engaged in life or casualty insurance business upon the","body":"cooperative or assessment plan.\n(1) Any company that issues any certificate, policy or other evidence of interest to, or\nmakes any agreement with, its members, whereby any money,  charity, relief, aid or\nother benefit is to be paid, provided or rendered by the company to the member, or\nto the legal representative of the member, or to a beneficiary designated by the\nmember, which benefit is derived from voluntary donations or from a dmission fees,\ndues or assessments collected or to be collected from the members thereof, or\nmembers of a class therein, and interests and accretions thereon, or rebates from\namounts payable to the beneficiaries or heirs, and wherein the paying, providing or\nrendering of such benefit is conditioned upon its being realized in the manner\naforesaid, and wherein the benefit so realized is applied to the uses and purposes of\nthe company and the expenses of the management and prosecution of its business,\nshall be deemed to be engaged in the business of insurance upon the cooperative or\nassessment plan, and shall be subject only to the provisions of this chapter.\n(2) If the benefits provided are conditioned upon the decease of a member, the company\nshall be deemed  to be engaged in the business of life insurance. If the benefits\nprovided are conditioned upon the sickness or other physical disability of a member,\nbut not by reason of his having attained a certain age, the company shall be deemed\nto be engaged in the business of casualty insurance.","path":["KRS Chapter 299"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=15822","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:26Z","sha256":"9b4f461e73bc9cdd2ac4d82f420ce843240e9ddae30c0bd1ed0476b72f36c5bd","source_id":"us-ky","stale":false,"prev":"us-ky/krs-299.019","next":"us-ky/krs-299.030"},"notice":"GroundRules: Original legal text. Not legal advice."}