{"data":{"id":"us-ky/krs-304.33-230","jurisdiction":"us-ky","citation":"KRS 304.33-230","heading":"Federal receivership.","body":"(1) Petition for federal receiver. Whenever in the commissioner's opinion, liquidation\nof a domestic insurer or an alien insurer domiciled in this state would be facilitated\nby a federal receivership, and when any ground exists upon which the commissioner\nmight petition the court for an order of rehabilitation or liquidation under KRS\n304.33-140 or 304.33-190, or if an order of rehabilitation or liquidation has already\nbeen entered, the commissioner may request the insurance commissioner or other\nwilling resident of another state to petition any appropriate federal District Court for\nthe appointment of a federal receiver. The commissioner may intervene in any such\naction to support or oppose the petition, and may accept appointment as the receiver\nif he or she is so designated. So much of this subtitle shall apply to the receivership\nas can be made applicable and is appropriate. Upon motion of the commissioner,\nthe courts of this state shall relinquish all jurisdiction over the insurer for purposes\nof rehabilitation or liquidation.\n(2) Compliance with federal requirements. If the commissioner is appointed receiver\nunder this section, he or she shall comply with any requirements necessary to give\nhim or her title to and control over the assets and affairs of the insurer.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29842","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:54Z","sha256":"0919f845f176aa708212f5127297d2add186c58d123d3dd0298914220963ea9e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.33-220","next":"us-ky/krs-304.33-240"},"notice":"GroundRules: Original legal text. Not legal advice."}