{"data":{"id":"us-ky/krs-304.29-131","jurisdiction":"us-ky","citation":"KRS 304.29-131","heading":"Reinsurance.","body":"(1) A domestic society may, by a reinsurance agreement, cede any individual risk or\nrisks in whole or in part to an insurer, other than another fraternal benefit society,\nhaving the power to make reinsurance and authorized to do business in this state, or\nif not so authorized, one (1) which is approved by the commissioner; but no society\nmay reinsure substantially all of its insurance in force without the written\npermission of the commissioner. It may take credit for the reserves on the ceded\nrisks to the exten t reinsured; but no credit shall be allowed as an admitted asset or\nas a deduction from liability, to a ceding society for reinsurance made, ceded,\nrenewed, or otherwise becoming effective after January 1, 1989, unless the\nreinsurance is payable by the ass uming insurer on the basis of the liability of the\nceding society under the contract or contracts reinsured without diminution because\nof the insolvency of the ceding society.\n(2) Notwithstanding the limitation in subsection (1) of this section, a society may\nreinsure the risks of another society in a consolidation or merger approved by the\ncommissioner under KRS 304.29-141.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29671","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:52Z","sha256":"a7549151eee64c10e609d61f5a115559a5643ac237ee0decfecc40ab5e10df65","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.29-130","next":"us-ky/krs-304.29-140"},"notice":"GroundRules: Original legal text. Not legal advice."}