Section 304.49-130 - Prohibition of contributions made and benefits received - Exceptions(1) No captive insurer, including a captive insurer organized as a reciprocal insurer under KRS 304.49-010 to 304.49-230, shall be permitted to join or contribute financially to any plan, pool, association, or guaranty or insolvency fund in Kentucky, nor shall any such captive insurer, or its insured, or its parent or any affiliated company, or any member organization of its consortium, or in the case of a captive insurer organized as a reciprocal insurer, any subscriber thereof, receive any benefit from any such plan, pool, association, or guaranty or insolvency fund for claims arising out of the operations of such captive insurer.(2) Subsection (1) of this section shall not prohibit captive insurers from entering into reinsurance or pooling transactions in the normal course of business, in accordance with KRS 304.49-110.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 91, sec. 8, effective7/15/2010. -- Created 2000, Ky. Acts ch. 434, sec. 13, effective 7/14/2000.