{"data":{"id":"us-ky/krs-304.24-625","jurisdiction":"us-ky","citation":"KRS 304.24-625","heading":"Sale or issuance of stock or other security after conversion.","body":"During the one (1) year period following the effective date of the plan of conversion,\nneither the former mutual nor any affiliate company shall sell or issue, or adopt any plan\nor benefit program providing for the sale or issuance of, any stock or other equity security\nexcept:\n(1) As disclosed in the approved plan of conversion; or\n(2) As otherwise approved by the commissioner, upon a finding that the stock\ntransaction:\n(a) Will not frustrate the plan of conversion as approved by the members and the\ncommissioner; and\n(b) Is not adverse to the best interests of the policyholders of the former mutual,\nwithout regard to any interests of policyholders as shareholders of the former\nmutual or any affiliate company.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29592","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:51Z","sha256":"f4134c4f8e22d91ca047789dcc4f832fec488dcb941171033ae283c156eea448","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.24-623","next":"us-ky/krs-304.25-010"},"notice":"GroundRules: Original legal text. Not legal advice."}