Ky. Rev. Stat. § 299.010

Current through 2024 Ky. Acts ch. 225

Section 299.010 - Definitions and application

(1) The provisions of this chapter do not apply to secret or fraternal societies, lodges, or councils that are under the supervision of a grand or supreme body and secure members through the lodge system exclusively, and pay no commissions and employ no agents except in the organization and supervision of the work of local subordinate lodges or councils, nor do they apply to companies, societies or associations organized under the authority and patronage of any church or religious denomination for the exclusive purpose of insuring the property of churches or religious denominations and the personal property of the pastors and ministers thereof against loss or damage by fire, lightning or storm.

(2) As used in this chapter, unless the context requires otherwise:

(a) "Commissioner" means the commissioner of the Department of Insurance;

(b) "Policy" means any policy, certificate of membership, or contract of insurance;

(3) "Company," as used in KRS 299.020 to 299.300, means any corporation, association or society transacting in this state a life or casualty insurance business, or both, upon the cooperative or assessment plan, as defined in KRS 299.020;

(4) "Company," as used in KRS 299.310 to 299.470, means any corporation organized under KRS 299.310 and 299.320 for the purpose of transacting, and any company heretofore organized under any similar law of this state or under the general corporation laws of this state that is transacting, the business of insurance against physical loss or damage of property by such hazard or hazards as it may provide in its policies, upon the cooperative or assessment plan.

KRS 299.010

Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 880, effective7/15/2010. -- Amended 1966 Ky. Acts ch. 255, sec. 239. -- Amended 1960 Ky. Acts ch. 75, sec. 1, effective 6/16/1960. -- Amended 1950 Ky. Acts ch. 21, sec. 3, effective 9/1/1950. -- Amended 1944 Ky. Acts ch. 80, sec. 3. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective 10/1/1942, from Ky. Stat. sec. 641, 664, 702, 719.