Title XXV, Business and Financial Institutions

(1) No person shall engage in the business of financing insurance premiums in this state without first having obtained a license as a premium finance company from the commissioner. (2) The annual license fee shall be as specified in Subtitle 4 of this chapter. Licenses may be ren…

(1) Upon the filing of an application and the payment of the license fee, the commissioner shall make an investigation of each applicant and shall issue a license if the applicant is qualified in accordance with this subtitle. If the commissioner does not so find, he or she shall…

(1) The commissioner may revoke or suspend the license of any premium finance company when and if, after investigation, it appears to the commissioner that: (a) Any license issued to the company was obtained by fraud; (b) There was any misrepresentation in the application for the…

(1) Every licensee shall maintain records of its premium finance transactions and the records shall be open to examination and investigation by the commissioner. (2) Every licensee shall preserve its records of premium finance transactions, including cards used in a card system, …

The commissioner shall have the authority to make and enforce such reasonable rules and regulations as may be necessary to make effective the provisions of this subtitle and to establish the manner in which licensees shall conduct their business, but such rules and regulations sh…

(1) A premium finance agreement shall: (a) Be dated, signed by or on behalf of the insured, and the printed portion thereof shall be in at least eight-point type; (b) Contain the name and place of business of the insurance agent negotiating the related insurance contract, the nam…

(1) A premium finance company shall not charge, contract for, receive, or collect a service charge other than as permitted by the subtitle. (2) The service charge is to be computed on the balance of the premiums due (after subtracting the down payment made by the insured in accor…

A premium finance agreement may provide for the payment by the insured of a delinquency charge of one dollar ($1) to a maximum of five percent (5%) of the delinquent installment which is in default for a period of five (5) days or more.

(1) When a premium finance agreement contains a power of attorney enabling the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be canceled by the premium finance company unless such cance…

No filing of the premium finance agreement shall be necessary to perfect the validity of such agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrances, successors or assigns.

Catchline at repeal: Subscribers' liability.

Catchline at repeal: Subscribers' liability on judgments.

Catchline at repeal: Assessments.

Catchline at repeal: Time limit for assessment.

Catchline at repeal: Aggregate liability.

Catchline at repeal: Extinguishment of contingent liabilities.

Catchline at repeal: Share in savings.

Catchline at repeal: Subscriber's share of assets.

January 1, 1971 -- Conditions. Any corporation already organized under the laws of this state and transacting the business of burial insurance on January 1, 1971, may continue the transaction of such business as provided by the laws of this state prior to June 18, 1970.

Catchline at repeal: Merger or conversion.

Catchline at repeal: Impaired reciprocals, procedure thereon.

Catchline at repeal: Underwriters authorized to insure on Lloyd's plan.

Catchline at repeal: Application for license as underwriter, requirements.

Catchline at repeal: Authorization of underwriters.

Catchline at repeal: Admission of additional underwriters to original authorized group; regulated as original members.

Catchline at repeal: Deposit requirements to alien underwriters.

This subtitle may be cited as the "Nonprofit Hospital, Medical-Surgical, Dental and Health Service Corporation Law."

(1) It is the purpose of this subtitle to regulate in the public's interest the formation and operation of prepaid health care service organizations, in order that such services may be made available upon a basis of fair and equitable contracts through state licensed nonprofit or…

(1) Any nonprofit corporation organized under the laws of this state for the purpose of establishing, maintaining, and operating a nonprofit plan, whereby hospital care, medical-surgical care, dental care, and other health services are made available to persons who become subscri…

KRS Chapter 273, as may from time to time be amended, except where inconsistent with the express provisions of this subtitle, shall govern the corporate powers, duties, and relationships of corporations incorporated under the provisions of this subtitle, but such chapter shall no…

domestic mutual insurance companies subject to provisions of Subtitle 24. (1) Any nonprofit hospital, medical-surgical, dental, and health service corporation subject to the provisions of this subtitle, possessed of admitted assets in excess of all liabilities at least equal to t…

(1) Whenever any number of persons shall associate to form a corporation for any of the purposes in KRS 304.32-030, they shall submit proposed articles of incorporation in triplicate to the commissioner for examination. After being approved by the commissioner and the Attorney Ge…

In addition to the contents required or permitted by KRS Chapter 273, the articles of incorporation of any nonprofit hospital, medical-surgical, dental, and health service corporation shall comply with the following: (1) The name of the corporation shall not include the words "in…

The property and lawful business of every corporation subject to the provisions of this subtitle shall be held and managed by a governing board of trustees or directors with such powers and authority as shall be necessary or instrumental to the complete execution of purposes of e…

Corporations subject to the provisions of this subtitle may enter into contracts for the rendering of hospital services, medical-surgical services, and other health services on behalf of any of their subscribers with hospitals maintained by the state, or by any of its political s…

(1) Corporations subject to the provisions of this subtitle doing business in this state on June 18, 1970, or which thereafter do business in this state, shall make and file annually with the commissioner, on or before the first day of March of each year, a statement under oath u…

Corporations subject to this subtitle shall comply with KRS 304.2-205.

Corporations subject to this subtitle shall comply with KRS 304.18-124 to 304.18-127.

No corporation subject to the provisions of this subtitle shall transact any business in this state unless it shall first procure from the commissioner a certificate of authority stating that the requirements of the laws of this state have been complied with and authorizing it to…

When the annual statement of a corporation subject to the provisions of this subtitle shall have been filed and all fees due from the corporation shall have been paid, the corporation's certificate of authority to do business in this state shall automatically be extended until su…

The commissioner shall not issue or renew a certificate of authority to any corporation operating or proposing to operate a nonprofit hospital, medical-surgical, dental, or other health service plan unless: (1) The subscription or membership certificates which the corporation off…

(1) No corporation subject to provisions of this subtitle shall be permitted to do any business in this state unless, in addition to the other requirements of law, it shall have and maintain liquid reserves in an amount not less than five percent (5%) of the corporation's subscri…

Corporations doing business pursuant to this subtitle are subject to coordination of benefits guidelines prescribed pursuant to KRS 304.18-085.

administers program providing for utilization review of benefits. (1) Every nonprofit hospital, medical-surgical, dental, and health service corporation proposing to issue or deliver in this state a health insurance policy or contract or administer a health benefit program which …

The benefits or services which a corporation subject to the provisions of this subtitle may contract to make available to its members or subscribers shall include all of the services made available by hospitals, or other licensed health care institutions, doctors of medicine, ost…

coverage. Any group policy, group plan or group contract issued, delivered or renewed by a nonprofit hospital, medical-surgical, or health service corporation shall include conversion and continuation rights for certificate holders equal to that provided in KRS 304.18-110 subject…

(1) All individual or group service or indemnity type contracts and all certificates thereunder issued by a nonprofit corporation regardless of whether the contracts and certificates are issued for nonfamily or family coverage shall, provide that health insurance benefits shall b…

(1) All individual or group service or indemnity type contracts and all certificates thereunder issued by a nonprofit corporation which provide maternity benefits shall offer the master policyholder the option to purchase coverage to pay for routine nursery care for a well newly …

Corporations subject to this subtitle shall be required to honor all legitimate claims presented by their members and subscribers who have incurred claims in any private hospital with acute care in the State of Kentucky, as long as the hospital is duly licensed and certified by t…

prohibited. No corporation subject to the provisions of this subtitle shall use an itemized statement furnished pursuant to KRS 216B.250 for insurance payment purposes where benefits have been assigned.