{"data":{"id":"us-ky/krs-304.16-020","jurisdiction":"us-ky","citation":"KRS 304.16-020","heading":"Contracts must meet group requirements.","body":"(1) No contract of life insurance shall be delivered in this state insuring the lives of\nmore than one (1) individual unless to one (1) of the groups as provided for in KRS\n304.16-030 to 304.16 -090, inclusive, and unless in compliance with the other\nprovisions of those sections.\n(2) Subsection (1) of this section shall not apply to contracts of life insurance:\n(a) Insuring only individuals related by marriage, by blood, or by legal adoption;\n(b) Insuring only individuals having a common interest through ownersh ip of a\nbusiness enterprise, or of a substantial legal interest or equity therein, and who\nare actively engaged in the management thereof; or\n(c) Insuring only individuals otherwise having an insurable interest in each other's\nlives.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=17262","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:44Z","sha256":"a4e444a9bb9e5a88cc8f9c789879968bfbe7939d43afda1a4a3f35b640f660b0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.16-010","next":"us-ky/krs-304.16-030"},"notice":"GroundRules: Original legal text. Not legal advice."}