Ky. Rev. Stat. § 56.090
Current through 2024 Ky. Acts ch.225
Before July 1 of each year the cabinet shall fix, upon each public building and upon each class of personal property belonging to or controlled or used by the state or any agency of the state, the rate of premium that the cabinet deems to be the average rate charged by responsible insurance companies doing business in this state for insurance against damage by fire and other hazards upon property of like kind and degree of risk. The premium and insurance shall be calculated upon ninety percent (90%) of the valuation. Before July 1 of each year the cabinet shall certify to the State Treasurer the premium to be charged against each agency of the state.
KRS 56.090
Amended 2010, Ky. Acts ch. 24, sec. 42, effective7/15/2010. -- Amended 1982 Ky. Acts ch. 406, sec. 3, effective 7/15/1982. -- Amended 1950 Ky. Acts ch. 192, sec. 3. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective 10/1/1942, from Ky. Stat. secs. 4636-24, 4636-25.