{"data":{"id":"us-ky/krs-304.19-040","jurisdiction":"us-ky","citation":"KRS 304.19-040","heading":"Amounts of credit life insurance.","body":"(1) The initial amount of credit life insurance shall not exceed the total amount\nrepayable under the contract of indebtedness and, where an indebtedness is\nrepayable in substantially equal installments, the amount of insurance shall at no\ntime exceed the sche duled or actual amount of unpaid indebtedness, whichever is\ngreater, provided that in the case of a group policy the amount of insurance may be\nreduced annually or at more frequent intervals, by a level percentage.\n(2) Notwithstanding subsection (1) of thi s section, insurance on agricultural credit\ntransaction commitments not exceeding one (1) year in duration may be written up\nto the amount of the loan commitment, on a nondecreasing or level term plan.\n(3) Notwithstanding subsection (1) of this section, in surance on educational credit\ntransaction commitments may be written for the amount of the portion of such\ncommitment that has not been advanced by the creditor.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29461","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:49Z","sha256":"2c66a035ef27400248ec26ce1bc437bcd6c3a709f97fe1462cf872f123ca0300","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.19-030","next":"us-ky/krs-304.19-050"},"notice":"GroundRules: Original legal text. Not legal advice."}