{"data":{"id":"us-ky/krs-304.8-150","jurisdiction":"us-ky","citation":"KRS 304.8-150","heading":"Deposit of reserves by domestic life insurers.","body":"(1) Except as provided in subsection (2) of this section, every domestic life insurer\nshall, within ninety (90) days after the net cash value of each policy in force has\nbeen ascertained as required by law, deposit with the commissioner for the security\nand benefit of its policyholders, assets in an amount which, together with the sums\nas may be deposited by it with other states and governments by the requirements of\ntheir laws, shall be not less than the ascertained valuation of all policies in force less\nany sums that it has advanced from its legal reserve to its policyholders on the\npledge to it of their policies and any accumulations thereon.\n(2) If the legal reserve or the aggregate ascertained valuation of all policies in force in\nany domestic life insurer  equals twenty million dollars ($20,000,000), no further\ndeposit shall be required of the insurer so long as the legal reserve remains at or\nabove twenty million dollars ($20,000,000), unless the insurer elects to represent on\nits policies or otherwise tha t the legal reserve or cash value of its policies thereafter\nwritten is on deposit with this state or one or more of its designated agencies, in\nwhich event the insurer shall deposit assets as above set out in an amount equal to\nthe ascertained valuation o f all of its policies in force at the time the representation\nis made.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16879","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:39Z","sha256":"b156dffcc38d91f6d7814aa1da65b024dbd3d89460acb171ea25d737b20d8bb7","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.8-140","next":"us-ky/krs-304.8-160"},"notice":"GroundRules: Original legal text. Not legal advice."}