{"data":{"id":"us-ky/krs-304.19-090","jurisdiction":"us-ky","citation":"KRS 304.19-090","heading":"Premiums and refunds.","body":"(1) Any insurer may revise its schedules of premium rates from time to time, and shall\nfile such revised schedules with the commissioner. No insurer shall issue any credit\nlife insurance or credit health insurance policy for which the premium rate exceeds\nthat determined by the schedules of such insurer as then on file with the\ncommissioner.\n(2) Each individual policy or group certificate shall provide that in the event of\ntermination of the insurance prior to the scheduled maturity date of the\nindebtedness, an y refund of an amount paid by the debtor for insurance shall be\npaid or credited promptly to the person entitled thereto. The commissioner shall\nprescribe a minimum refund and no refund which would be less than such\nminimum need be made. The formula to be used in computing such refund shall be\nfiled with and approved by the commissioner. Nothing contained in this section\nshall require the debtor to surrender any policy or group certificate for cancellation\nor termination solely because the indebtedness has been paid in full prior to the\nscheduled maturity date nor require the insurer to return any premiums.\n(3) When a debtor purchases credit life insurance or credit health insurance and an\nindividual policy or group certificate of insurance is not issued, th e creditor shall\nimmediately give written notice to such debtor and shall promptly make an\nappropriate credit to the account.\n(4) The amount charged to a debtor for any credit life insurance or credit health\ninsurance shall not exceed the premiums charged by the insurer, as computed at the\ntime the charge to the debtor is determined.\n(5) Nothing in KRS 304.19 -020 to 304.19 -140 shall be construed to authorize any\npayments for insurance now prohibited under any statute, or rule thereunder,\ngoverning credit transactions.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57205","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:49Z","sha256":"fb7519ccb4454bf26fcce5e921b2c3d903659836c864c12dfea6442e9fb45f3c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.19-082","next":"us-ky/krs-304.19-100"},"notice":"GroundRules: Original legal text. Not legal advice."}