{"data":{"id":"us-ky/krs-304.24-310","jurisdiction":"us-ky","citation":"KRS 304.24-310","heading":"Participating policies.","body":"(1) If provided for in its articles of incorporation or charter, a stock insurer or mutual\ninsurer may issue any or all of its policies or contracts with or without participation\nin profits, savings, unabsorbed portions of premiums, may classify policies issue d\nand risks insured on a participating and nonparticipating basis, and subject to KRS\n304.15-380, may determine the right to participate and the extent of participation of\nany class or classes of policies. Any such classification or determination shall be\nreasonable.\n(2) A life insurer may issue both participating and nonparticipating policies or\ncontracts, only if the right or absence of right to participate is reasonably related to\nthe premium charged.  A combined stock and mutual life insurer shall only  issue\nparticipating policies or contracts in its \"mutual\" branch, and shall only issue\nnonparticipating policies or contracts in its \"stock\" branch.\n(3) No dividend, otherwise earned, shall be made contingent upon the payment of\nrenewal premium on any policy or contract.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29563","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:51Z","sha256":"7253b4d4e46be8798a522e83e7a246a3ee4080d6668c9f08c4b2c14e83e0075c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.24-300","next":"us-ky/krs-304.24-320"},"notice":"GroundRules: Original legal text. Not legal advice."}