{"data":{"id":"us-ky/krs-304.49-050","jurisdiction":"us-ky","citation":"KRS 304.49-050","heading":"Payment of dividends -- Commissioner's approval required --","body":"Limitations -- Rescinding approval.\nNo captive insurer may pay a dividend out of, or other distribution with respect to, capital\nor surplus, in excess of the limitations set forth in KRS 3 04.24-320 and 304.24 -330\nwithout the prior approval of the commissioner. Approval of an ongoing plan for the\npayment of dividends or other distributions shall be conditioned upon the retention, at the\ntime of each payment, of capital or surplus in excess o f amounts specified by, or\ndetermined in accordance with formulas approved by, the commissioner. The\ncommissioner may rescind approval of all or part of the dividend and may require\nrepayment of all or part of the dividend amount if a dividend is paid with out approval,\nmade in excess of the approved amount, made in excess of the approved amount, or made\nin violation of the terms of the approval.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=30222","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:59Z","sha256":"7e8366ac927d46f59476485e31c075a0873c71cd74e3fec1ee53dc1139ea3154","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.49-040","next":"us-ky/krs-304.49-060"},"notice":"GroundRules: Original legal text. Not legal advice."}