{"data":{"id":"us-ky/krs-304.25-020","jurisdiction":"us-ky","citation":"KRS 304.25-020","heading":"Definitions -- Interpretation of subtitle.","body":"(1) When used in this subtitle, the following terms shall mean and include the\nfollowing:\n(a) Acting director. Acting director means an acting director elected or appointed\nin accordance with this subtitle;\n(b) Acting officer. Acting officer means an acting officer appointed in accordance\nwith this subtitle;\n(c) Acute emergency. Acute emergency means a period, as formally declared and\nproclaimed by the Governor of this state, in which, by reason of loss of life,\nepidemic disease, destruction or damage of proper ty, contamination of\nproperty by radiological, chemical, or bacteriological means, or disruption of\nthe means of transportation or communication, resulting from an attack, it is\nimpossible or impractical for the business of insurance in this state to be\nconducted in strict accord with the provision of law or charter applicable\nthereto;\n(d) Attack. Attack means any attack, actual or imminent, or series of attacks by an\nenemy or a foreign nation upon the United States causing, or which may\ncause, substantial damage or injury to civilian property or persons in the\nUnited States in any manner by sabotage or by the use of bombs, shell fire, or\natomic, radiological, chemical, bacteriological, or biological means, or other\nweapons or processes;\n(e) Board. Board mea ns the board of directors, board of trustees, committee, or\nsimilar body having control of the affairs of an insurance organization;\n(f) Charter. Charter means the certificate of organization or incorporation or\nspecial law incorporating a corporation toge ther with its bylaws, or the\nagreement establishing a fund or association together with its constitution and\nbylaws;\n(g) Commissioner. Commissioner means the commissioner of the Department of\nInsurance or person duly designated to exercise the powers of th at department\nduring an attack or acute emergency;\n(h) Director. Director means a director, trustee, or member of a board;\n(i) Domestic organization. Domestic organization means any insurance\norganization which is domiciled in this state;\n(j) Insurance org anization. Insurance organization means any insurer, rating\norganization, service or advisory organization, joint underwriting association,\nwhich is subject, in whole or in part, to the insurance laws of this state;\n(k) Officer. Officer means an officer of a domestic insurance organization; and\n(l) Quorum. Quorum means the minimum number of directors required by\ncharter and bylaw, exclusive of the provisions of this subtitle, to be present for\nvalid action to be taken at a meeting of a board with respect to  each particular\nitem of business which may come before such meeting.\n(2) This subtitle does not and shall not be construed to limit the powers of, or permit or\nrequire, any insurance organization which is not domiciled in this state or of any\nbranch office, or agents of such insurance organization, or the directors, officers,\nmembers, policyholders, or stockholders of any such organization to act, or fail to\nact, in such fashion as would violate the laws of the jurisdiction wherein such\norganization has its domicile.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29594","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:51Z","sha256":"fa109bb1d25ffe6f475adb59b883b9c9ea16b7f74e496417201462d8406eea86","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.25-010","next":"us-ky/krs-304.25-030"},"notice":"GroundRules: Original legal text. Not legal advice."}