Find Legal Information

56.160 Reinsurance.

Download pdf

56.160 Reinsurance. The cabinet may contract with any responsible fire and tornado insurance or reinsurance <br>company authorized to do business in Kentucky to reinsure any subject of risk of which <br>the total valuation has been fixed at over five hundred thousand dollars (&#36;500,000) in <br>such a way as to limit the net liability of the state fire and tornado insurance fund with <br>respect to such subject of risk to five hundred thousand dollars (&#36;500,000). The premium <br>for reinsurance shall be paid out of the state fire and tornado insurance fund, on warrant <br>of the cabinet. Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 48, effective July 15, 2010. -- Amended 1982 Ky. Acts ch. 406, sec. 6, effective July 15, 1982. -- Amended 1960 Ky. Acts <br>ch. 100, sec. 3, effective June 16, 1960. -- Amended 1954 Ky. Acts ch. 225, sec. 3. -- <br>Amended 1950 Ky. Acts ch. 192, sec. 8 -- Amended 1946 Ky. Acts ch. 130, sec. 1. -- <br>Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. <br>sec. 4636-33.