{"data":{"id":"us-ky/krs-299.370","jurisdiction":"us-ky","citation":"KRS 299.370","heading":"Reserve fund -- Source -- Use -- Investment.","body":"All portions of membership fees, policy fees, and assessments not necessarily used for\nexpenses of writing insurance and payment of losses and expenses accrued at the time of\ntheir collection shall constitute a reserve fund, which may be used from time to time in\nanticipation of collection of assessments. The reserve fund shall be the property of the\ncompany, but in event of liquidation, voluntary or involuntary, the reserve fund shall be\napportioned pro rata to the policyholders whose policies are in force  at the time of\nliquidation, in proportion to the amount of premiums paid on the policies from the date of\ntheir issuance. The governing authorities of the company may invest the reserve fund or\nany portion of it in the same securities as fire insurance co mpanies are permitted by law\nto invest in, and may pledge or sell the securities to raise money to more effectively carry\nout the lawful purposes of the company.","path":["KRS Chapter 299"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=15859","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:27Z","sha256":"ab3926d455874b4964b5fe1aa6ec2162a68b8266acd7bcb69daf356cc1c8a1e9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-299.360","next":"us-ky/krs-299.380"},"notice":"GroundRules: Original legal text. Not legal advice."}