{"data":{"id":"us-ky/krs-304.24-350","jurisdiction":"us-ky","citation":"KRS 304.24-350","heading":"Impairment of capital or assets.","body":"(1) If the assets of an insurer at any time are less than its liabilities, including its capital\nstock as a liability, if a stock insurer, or its minimum required surplus if a mutual\ninsurer, the commissioner shall forthwith determine the amount of such defici ency\nand give notice to the insurer to make good the deficiency within ninety (90) days\nafter the giving of such notice.\n(2) The insurer may cure the deficiency by a decrease of its capital stock or by other\nlawful means. The deficiency shall be made good in cash or in assets eligible under\nthis code for investment of the insurer's funds or by decrease of the insurer's capital\nstock to an amount not below the minimum required for the kinds of insurance to be\nthereafter transacted.\n(3) If the deficiency is n ot made good and proof thereof filed with the commissioner\nwithin such ninety -day period, the commissioner shall revoke the insurer's\ncertificate of authority, the insurer shall be deemed insolvent, and shall be\nproceeded against as authorized by this code.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29567","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:51Z","sha256":"c935f5feaa22d0c1afaf18ff18c2cfbfb8d937080c696f03cee3325bfbb43fc8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.24-340","next":"us-ky/krs-304.24-360"},"notice":"GroundRules: Original legal text. Not legal advice."}