{"data":{"id":"us-ky/krs-304.24-617","jurisdiction":"us-ky","citation":"KRS 304.24-617","heading":"Fairness of method or formula in plan of conversion.","body":"In determining whether the method or formula in the plan of conversion is fair and\nequitable, the commissioner may consider the following factors:\n(1) Voting rights;\n(2) Number of eligible members;\n(3) Length of membership in the converting mutual;\n(4) Premiums paid by members;\n(5) Policy limits;\n(6) Risk of line of insurance;\n(7) Sources of the proportionate contributions to historical surplus, based on such\ngroupings, classification, historical information, assumptions, and projections as are\nactuarially sound and reasonable;\n(8) For a converting mutual that is a property and casualty company, the net earned\npremiums each eligible member has paid to the converting mutual, compared to the\ntotal net earned premiums paid by all eligible members, in each case during the\nperiod of time specified in the plan of conversion; and\n(9) Any other relevant factors the commissioner may deem appropriate.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29588","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:51Z","sha256":"a3893ff9d5dd0a2d0195c4979d46f9831277375872d603061497cd337db9fc5d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.24-615","next":"us-ky/krs-304.24-619"},"notice":"GroundRules: Original legal text. Not legal advice."}