{"data":{"id":"us-ky/krs-304.14-070","jurisdiction":"us-ky","citation":"KRS 304.14-070","heading":"Power to contract -- Purchase of insurance by minors.","body":"(1) Any person of competent legal capacity may contract for insurance.\n(2) Any minor not less than fifteen (15) years of age may, notwithstanding his minority,\ncontract for or own annuities, or insurance upon his own life, body, health, property,\nliabilities, or other interests, or on the person of another in whom the minor has an\ninsurable interest. Such a minor shall, notwithstanding such minority, be deemed\ncompetent to exercise all rights and powers with respect to or under:\n(a) Any contract for annuity or for insurance upon his own life, body, or health, or\n(b) Any contract such minor effected upon his own property, liabilities, or other\ninterests, or\n(c) Any contract effected or owned by the minor on the person of another,\nas might be exercised by a pe rson of full legal age, and may at any time surrender\nhis interest in any such contract and give valid discharge for any benefit accruing or\nmoney payable thereunder. Such a minor shall not, by reason of his minority, be\nentitled to rescind, avoid or repudiate the contract, nor to rescind, avoid or repudiate\nany exercise of a right or privilege thereunder, except that such a minor not\notherwise emancipated, shall not be bound by any unperformed agreement to pay by\npromissory note or otherwise, any premium o n any such annuity or insurance\ncontract.\n(3) Any annuity contract or policy of life or health insurance procured by or for a minor\nunder subsection (2) of this section, shall be made payable either to the minor or his\nestate or to a person having an insurable interest in the life of the minor.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=17125","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:43Z","sha256":"e6e48e9607d308d1a18738357a0f0d50eb9422e2d0bb20b70f39db6d2eca65b5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.14-065","next":"us-ky/krs-304.14-080"},"notice":"GroundRules: Original legal text. Not legal advice."}