{"data":{"id":"us-ky/krs-304.24-607","jurisdiction":"us-ky","citation":"KRS 304.24-607","heading":"Commissioner's review of plan of conversion -- Hearing and comments","body":"-- Approval or disapproval.\n(1) The commissioner shall have ninety (90) days to review the plan of conversion after\nit is filed. Upon completion of the review, the commissioner sha ll schedule a public\nhearing on the plan of conversion.\n(2) The commissioner shall hold a hearing upon the plan of conversion in accordance\nwith KRS 304.2-310.\n(3) The converting insurer shall present evidence that the plan of conversion complies\nwith KRS 304.24-600 to 304.24-625.\n(4) Persons wishing to make comments and submit information may submit written\nstatements prior to the public hearing and may appear and be heard at the hearing.\nThese comments shall be part of the record and shall be considered b y the\ncommissioner before issuing an order on the plan of conversion.\n(5) At least forty -five (45) days prior to the hearing date, the converting mutual shall\nprovide information regarding the hearing to the eligible members and its other\npolicyholders and certificate holders. The information provided shall include a brief\nstatement of the subject of the hearing, the date, time, and location of the hearing, a\ndescription of members eligible to vote on the plan of conversion, and a statement\nindicating the l ocation at which the public portion of the application may be\nexamined. This information shall be provided by mail or by other means approved\nby the commissioner.\n(6) Following the hearing, the commissioner shall, by order, approve, conditionally\napprove, or disapprove the plan of conversion. The commissioner may require, as a\ncondition of approval of the plan of conversion, modification of the proposed plan\nof conversion. The insurer shall file the amendments required by the conditional\napproval within thi rty (30) days of the date of the order. The commissioner may\ngrant an extension for filing amendments for good cause shown. If the applicant\ndoes not timely file the required amendments, the plan of conversion shall be\ndeemed disapproved.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29583","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:51Z","sha256":"a927b541f9fd76bfd9d1b3477463b67cb0c20188a9cdf9e2680cc25942dc6d9e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.24-605","next":"us-ky/krs-304.24-609"},"notice":"GroundRules: Original legal text. Not legal advice."}