{"data":{"id":"us-ky/krs-304.37-580","jurisdiction":"us-ky","citation":"KRS 304.37-580","heading":"Prohibited ownership interests -- Prohibited acquisition offer to","body":"acquire.\n(1) At no time shall the officers, directors, or insiders of the mutual insurance holding\ncompany and its subsidiaries and affiliates beneficially own, in the aggregate, mor e\nthan eighteen percent (18%) of the voting stock of the insurance company\nsubsidiary of a mutual insurance holding company, an intermediate holding\ncompany subsidiary of a mutual insurance company, or an insurance company\nsubsidiary of an intermediate hol ding company subsidiary to a mutual insurance\nholding company.\n(2) This subsection applies to directors of the mutual insurance holding company and\nits subsidiaries and affiliates. These directors shall not purchase or beneficially own,\nin the aggregate, m ore than three percent (3%) of the voting stock of an insurance\ncompany subsidiary of a mutual insurance company or an insurance company\nsubsidiary of an intermediate holding company subsidiary to a mutual insurance\nholding company.\n(3) No person may direc tly or indirectly offer to acquire or acquire, in any manner,\nbeneficial ownership of more than fifteen percent (15%) of any class of voting\nsecurities of an insurance company subsidiary of a mutual insurance holding\ncompany, an intermediate holding compan y subsidiary of a mutual insurance\ncompany, or an insurance company subsidiary of an intermediate holding company\nsubsidiary to a mutual insurance holding company.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29961","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:56Z","sha256":"51e5444e205c21fe5095fdf8ca83f3aefdeb2a3fde26df0735e57a49c4342851","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.37-575","next":"us-ky/krs-304.370"},"notice":"GroundRules: Original legal text. Not legal advice."}