806 KAR 7:020.

Person defined.

 

      RELATES TO: KRS

304.7-010-304.7-350

      STATUTORY AUTHORITY:

KRS 304.2-110

      NECESSITY, FUNCTION,

AND CONFORMITY: KRS 304.2-110 provides that the Executive Director of

Insurance may make reasonable rules and administrative regulations necessary

for or as an aid to the effectuation of any provision of the Kentucky Insurance

Code. The function of this administrative regulation is to apply the definition

of "person" to the investments subtitle of the Insurance Code.

 

      Section 1. The executive

director may, upon a finding that any group of corporations or

other legal entities (other than the insurer and its affiliates) are under

common ownership and/or control; either directly or indirectly, consider said

combined group of entities as "one (1) person" for purposes of

determining compliance with this section. (I-7.02; 1 Ky.R. 859; eff. 5-14-75;

TAm eff. 8-9-2007.)