{"data":{"id":"us-ky/krs-299.500","jurisdiction":"us-ky","citation":"KRS 299.500","heading":"Policies of reinsurance -- Rates -- Directors -- Liability of member","body":"companies -- Limitation of risks.\n(1) Reinsurance companies formed under KRS 299.480 may issue policies of\nreinsurance to and through its member companies only, on their risks, and u pon the\nterms and rates provided for by its bylaws. Such reinsurance companies shall have\nnot less than five (5) directors, and one (1) director shall be chosen from the officers\nof each member company.\n(2) The member companies shall be liable for the inde btedness of such reinsurance\ncompany, if its losses and expenses at any time exceed its income and assets, in the\nproportion of liability fixed by the bylaws of the reinsurance company. Such\nreinsurance company shall not issue policies on one (1) risk for a greater amount\nthan a sum equal to three cents ($0.03) for each one hundred dollars ($100)\ninsurance in force in its combined member companies.","path":["KRS Chapter 299"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=15877","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:27Z","sha256":"e70d3f9ba8485bb6d29f9b2bc4f80fb40b07017f8d82e07cd6e2fb6a33a5c68d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-299.490","next":"us-ky/krs-299.510"},"notice":"GroundRules: Original legal text. Not legal advice."}