{"data":{"id":"us-ky/krs-304.33-330","jurisdiction":"us-ky","citation":"KRS 304.33-330","heading":"Set-offs and counterclaims.","body":"(1) Set-offs allowed in general. Mutual debt or mutual credits between the insurer and\nanother person in connection with any action or proceeding under this subtitle shall\nbe set off and the balance only shall be allowed or paid, except as provided in\nsubsection (2) of this section.\n(2) Exceptions. Except as provided in KRS 304.33-055, no set-off or counterclaim shall\nbe allowed in favor of any person where:\n(a) The obligation of the insurer to the person would not at the date of the filing\nof a petition for li quidation entitle him or her to share as a claimant in the\nassets of the insurer;\n(b) The obligation of the insurer to the person was purchased by or transferred to\nthe person with a view to its being used as a set-off;\n(c) The obligation of the person is to pay an assessment levied against the\nmembers or subscribers of the insurer, or is to pay a balance upon a\nsubscription to the capital stock of the insurer, or is in any other way in the\nnature of a capital contribution; or\n(d) The obligation of the pers on is to pay earned premiums to the insurer.\nHowever, the provisions of this paragraph shall only apply to reinsurance\ncontracts entered into prior to July 13, 2004.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56209","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:55Z","sha256":"f8c5f0c957739bcf697203cd8653b0aa8e00f124554667b2dedae597cf6129ef","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.33-320","next":"us-ky/krs-304.33-340"},"notice":"GroundRules: Original legal text. Not legal advice."}