{"data":{"id":"us-ky/krs-304.37-510","jurisdiction":"us-ky","citation":"KRS 304.37-510","heading":"Reorganization of foreign mutual insurance company forming mutual","body":"insurance holding company -- Hearing -- Approval.\n(1) A foreign mutual insurance company may reorganize upon the approval of the\ncommissioner and in compliance with the requirement o f any law or regulation\nwhich is applicable to the foreign mutual insurance company by merging its\npolicyholders' membership interests into a mutual insurance holding company\nformed under KRS 304.37 -505 and continuing the corporate existence of the\nreorganizing foreign mutual insurance company as a foreign stock insurance\ncompany subsidiary of the mutual insurance holding company. The commissioner,\nafter a public hearing as provided in KRS 304.37 -120(4)(b), may approve the\nproposed merger. A merger under this section is subject to KRS 304. 37-120(1), (2),\n(3), (6), and (7).\n(2) The reorganizing foreign mutual insurance company may remain a foreign company\nafter the merger and may be admitted to do business in this state. A foreign mutual\ninsurance company wh ich is a party to the merger may at the same time\nredomesticate in this state by complying with the applicable requirements of this\nstate and its state of domicile. The provisions of KRS 304.37 -120 shall apply to a\nmerger authorized under this section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29947","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:56Z","sha256":"be31abab60e29826cb5f2d6a9457b03efc7afa0233bbc6366c6843be7d0e819f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.37-505","next":"us-ky/krs-304.37-515"},"notice":"GroundRules: Original legal text. Not legal advice."}