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154.20.540 Powers of insurance corporation.

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154.20-540 Powers of insurance corporation. The insurance corporation shall be empowered by its articles: <br>(1) To contract with the authority to insure loans, bonds or their debt service, made by any lender or issuer to finance the acquisition, construction or alteration of any <br>eligible project; (2) To enter into agreements for such insurance; <br>(3) To fix a rate or rates of premiums to be paid for such insurance by the person or corporation assisted, which premiums shall be fixed to take into account the fact <br>that the authority has paid an assistance fee to the insurance corporation as an <br>assistance to the person or corporation whose loan or bond is being insured; and (4) To exercise such other powers as are necessary or incidental to the foregoing. Effective: July 15, 1986 <br>History: Amended 1986 Ky. Acts ch. 201, sec. 7, effective July 15, 1986. -- Amended 1980 Ky. Acts ch. 340, sec. 18, effective July 15, 1980. -- Created 1978 Ky. Acts <br>ch. 96, sec. 16, effective July 1, 1978. Formerly codified as KRS 154.560