303.130 Deposit of securities.
76 words·~1 min read·
/ky/chapter-303/303-130A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each burial association shall deposit with the custodian of insurance securities to the amount of not less than $100,000, to be held for the benefit of its policyholders. These securities shall be of the kind in which domestic life insurance companies are allowed by law to invest their capital. Associations shall have, at all times, on approval of the commissioner, the right to exchange any part of the securities for other of like amount or character.