{"data":{"id":"us-ky/krs-304.24-260","jurisdiction":"us-ky","citation":"KRS 304.24-260","heading":"Nonassessable policies -- Revocation of authority.","body":"(1) The commissioner shall revoke the authority of a domestic mutual insurer to issue\npolicies without contingent liability if:\n(a) At any time the insurer's assets are less than the sum of its liabilities and the\nsurplus required for such authority; or\n(b) The insurer, by resolution of its board of directors approved by a majority of\nits members, requests that the authority be revoked.\n(2) During the absence of such authority the insurer shall not issue any policy without\nproviding therein for the contingent l iability of the policyholder, nor renew any\npolicy which is then in force without indorsing the same to provide for such\ncontingent liability.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29558","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:51Z","sha256":"92ad3f381ea87d22ea3c09b7b83a709bd70e878c2dc5f67ad110554a0ebc80a0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.24-250","next":"us-ky/krs-304.24-270"},"notice":"GroundRules: Original legal text. Not legal advice."}