{"data":{"id":"us-ky/krs-299.190","jurisdiction":"us-ky","citation":"KRS 299.190","heading":"Investigation and action against company failing to pay loss -- Court to","body":"close business and appoint receiver.\nWhen the commissioner has given the notice required by KRS 299.180, he or she shall\nproceed without delay to investigate the condition of the  company, and shall have full\npower, in person or by deputy, to examine its books, papers and accounts, and to\nexamine, under oath, its officers, agents, clerks and policyholders, and other persons\nhaving knowledge of its business. If it appears to the com missioner that the liabilities of\nthe company exceed its resources, and that it cannot within a reasonable time, not more\nthan three (3) months from the date of the original default, pay its accrued indebtedness in\nfull, the commissioner shall report the f acts to the Attorney General, who shall, upon the\ncommissioner's report, apply to the Judge of the Franklin Circuit Court, or to the Judge of\nthe Circuit Court of the county in which the company is located, for an order closing the\nbusiness of the company and appointing a receiver for the distribution of its assets among\ncreditors. No such final order shall be made until the company has had ten (10) days'\nnotice of the application and an opportunity to be heard. Upon hearing the matter, the\ncourt may make any order that the interests of the company and the public require.","path":["KRS Chapter 299"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=15840","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:27Z","sha256":"43a77b153704ba124afad963e6eb18b59177707442b3361713f39b0acc9e01cd","source_id":"us-ky","stale":false,"prev":"us-ky/krs-299.180","next":"us-ky/krs-299.200"},"notice":"GroundRules: Original legal text. Not legal advice."}