{"data":{"id":"us-ky/krs-299.040","jurisdiction":"us-ky","citation":"KRS 299.040","heading":"Authorization of a domestic company to do business -- Requirements --","body":"When may begin business.\nUpon filing in the office of the commissioner the required articles of incorporation,\ntogether with a sworn statement by three (3) of the incorporators that at least two hundred\n(200) persons, eligible under the proposed laws of the company to membership therein,\nhave in good faith made application in writing for membership, the articles shall be\nreferred to and examined by the Attorney General. If the articl es are found by him to be\nconformable to and not inconsistent with the laws of the state, he shall certify accordingly\nand return them, with his certificate of conformity, to the commissioner. The\ncommissioner shall cause the articles, with the certificate  of the Attorney General, to be\nrecorded in a book to be kept for the purpose, and shall deliver to the company a certified\ncopy of the papers so filed and recorded in his or her office, and of the certificate of the\nAttorney General, together with the lic ense of the commissioner to the company to\nengage in the business proposed in the articles. Upon the certified copy and license being\nfiled in the office of the clerk of the county where the company is to be located, the\nincorporators and those that may th ereafter become associated with them, or their\nsuccessors, shall constitute a body-politic and corporate, but may not commence business\nuntil at least two hundred (200) persons have subscribed, in writing, to be insured therein\nin the aggregate amount of at least $200,000, and the company has established a guaranty\nfund of $100,000 for the protection of its policyholders or members, and the\ncommissioner has certified that it has complied with the provisions of law and is\nauthorized to transact business.","path":["KRS Chapter 299"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=15824","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:26Z","sha256":"f95f2a352e150727ed7eb229c597fc6b00740c2de75761fbfb190c5d89eb4613","source_id":"us-ky","stale":false,"prev":"us-ky/krs-299.030","next":"us-ky/krs-299.045"},"notice":"GroundRules: Original legal text. Not legal advice."}