{"data":{"id":"us-ky/krs-304.33-590","jurisdiction":"us-ky","citation":"KRS 304.33-590","heading":"Interstate priorities.","body":"(1) Priorities. In a liquidation proceeding in this state involving one or more reciprocal\nstates the order of distribution of the domiciliary state shall control as to all claims\nof residents of this and reciprocal states. All claims of residents of reciproca l states\nshall be given equal priority of payment from general assets regardless of where\nsuch assets are located.\n(2) Priority of special deposit claims. The owners of special deposit claims against an\ninsurer for which a liquidator is appointed in this or any other state shall be given\npriority against the special deposits in accordance with the statutes governing the\ncreation and maintenance of the deposits. If there is a deficiency in any deposit so\nthat the claims secured by it are not fully discharged from it the claimants may share\nin the general assets, but the sharing shall be deferred until general creditors, and\nalso claimants against other special deposits who have received smaller percentages\nfrom their respective special deposits, have been pa id percentages of their claims\nequal to the percentage paid from the special deposit.\n(3) Priority of secured claims. The owners of a secured claim against an insurer for\nwhich a liquidator has been appointed in this or any other state may surrender his\nsecurity and file his claim as a general creditor, or the claim may be discharged by\nresort to the security in accordance with KRS 304.33 -420, in which case the\ndeficiency, if any, shall be treated as a claim against the general assets of the insurer\non the same basis as claims of unsecured creditors.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29879","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:55Z","sha256":"cbd983ee6693056f9c38039ca52b63809074dbc7558205eca166935abaf71716","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.33-580","next":"us-ky/krs-304.33-600"},"notice":"GroundRules: Original legal text. Not legal advice."}