{"data":{"id":"us-ky/krs-304.7-240","jurisdiction":"us-ky","citation":"KRS 304.7-240","heading":"Special investments of pension, retirement or profit -sharing plan, life","body":"insurance, or annuity funds -- Specified separate accounts of insurer.\n(1) The amounts allocated to each separate account established by the insurer in\nconnection with a pension , retirement or profit -sharing plan, life insurance or an\nannuity pursuant to KRS 304.15 -390 together with accumulations thereon, may be\ninvested and reinvested in any class of investments which may be authorized in the\nwritten contract or agreement withou t regard to any requirements or limitations\nprescribed by this subtitle; except, that to the extent that the insurer's reserve\nliability with regards to:\n(a) Benefits guaranteed as to amount and duration; and\n(b) Funds guaranteed as to principal amount or stated rate of interest, is\nmaintained in any separate account, a portion of the assets of such separate\naccount at least equal to such reserve liability shall be invested in accordance\nwith the applicable provisions of this subtitle.\nThe investments in s uch separate account or accounts shall not be taken into\naccount in applying the investment limitations applicable to other investments of\nthe insurer.\n(2) On application by an insurer, the commissioner may approve different investment\nlimitations and rest rictions for specified separate accounts of the insurer. The\ncommissioner shall only approve the insurer's proposed limitations and restrictions\nif he or she finds that the requested investment limitations and restrictions\nadequately protect the interests of the insured protected by the separate account and\nthe solvency of the insurer.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16821","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:39Z","sha256":"94c51c1ef52cc4cf0c22d727eb883cb94f0b79ec198636b93f15b47bd9ff8969","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.7-230","next":"us-ky/krs-304.7-250"},"notice":"GroundRules: Original legal text. Not legal advice."}