{"data":{"id":"us-ky/krs-304.24-060","jurisdiction":"us-ky","citation":"KRS 304.24-060","heading":"Qualification of newly organized stock insurer.","body":"(1) Upon receiving the application provided for in subsection (4) of KRS 304.24 -050,\nthe commissioner shall make an examination of the affairs of the proposed\ncorporation to ascertain whether it has complied with requirements of law and has\nfully paid-in capital stock and assets in amount necessary to qualify for authority to\ntransact the kind or kinds of insurance proposed to be transacted. As a part of such\nexamination the commissioner shall require the incorporators or directors to certify,\nunder oath, that assets exhibited to him or her are the bona fide property of the\nproposed corporation.\n(2) If after such examination the commissioner finds that the proposed corporation is\nfully entitled thereto, the commissioner shall issue to it his or her certificate o f\nauthority to transact the kind or kinds of insurance for which it has qualified.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29537","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:51Z","sha256":"302251f1b5ae0f9b8345696c060681e2945b683d56b6cc967060e8f126551c50","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.24-050","next":"us-ky/krs-304.24-070"},"notice":"GroundRules: Original legal text. Not legal advice."}