{"data":{"id":"us-ky/krs-304.37-540","jurisdiction":"us-ky","citation":"KRS 304.37-540","heading":"Annual statement -- Limitation on aggregate pledges and","body":"encumbrances of assets -- Investment of net worth in subsidiaries.\n(1) In addition to any other items required to be filed with the department under this\nchapter, each mutual insurance holding  company shall supply to the Department of\nInsurance, by March 1 of each year, an annual statement consisting of the following:\n(a) An income statement;\n(b) A balance sheet;\n(c) A cash flow statement;\n(d) Complete information on the status of any closed bl ock of business formed as\na part of a plan or reorganization;\n(e) An investment plan covering all assets; and\n(f) A statement disclosing any intention to pledge, borrow against, alienate,\nhypothecate, or in any way encumber the assets of the mutual insuran ce\nholding company.\n(2) The aggregate pledges and encumbrances of a mutual holding company's assets\nshall not affect more than forty -nine percent (49%) of the company's stock in any\nsubsidiary insurance holding company or subsidiary insurance company that\nresulted from a reorganization or merger.\n(3) At least fifty percent (50%) of the generally accepted accounting practices net worth\nof a mutual insurance holding company shall be invested in insurance company\nsubsidiaries.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29953","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:56Z","sha256":"8ffb592fe7dfc374b419ebfb682673b03db6bb581155d88ea81ee03c93dc729c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.37-535","next":"us-ky/krs-304.37-545"},"notice":"GroundRules: Original legal text. Not legal advice."}