Title 806 | Chapter 015 | Regulation 020
806 KAR 15:020.Wholesale life insurance; employer's contribution; dividends.
Section 1.
As used in KRS 304.15-020, the phrase "funds contributed by the employer" shall be deemed to mean those funds contributed by the employer which make an effective contribution to the net cost of the insurance, on the life of the employee.Section 2.
Any dividend returned upon a whole life insurance policy shall be applied for the sole benefit of insured employees.HISTORY: (I-15.02; 1 Ky.R. 869; eff. 5-14-75; TAm eff. 8-9-2007; Crt eff. 2-26-2020; TAm eff. 3-10-2020.)
806 KAR 15:020.Wholesale life insurance; employer's contribution; dividends.
Section 1.
As used in KRS 304.15-020, the phrase "funds contributed by the employer" shall be deemed to mean those funds contributed by the employer which make an effective contribution to the net cost of the insurance, on the life of the employee.Section 2.
Any dividend returned upon a whole life insurance policy shall be applied for the sole benefit of insured employees.HISTORY: (I-15.02; 1 Ky.R. 869; eff. 5-14-75; TAm eff. 8-9-2007; Crt eff. 2-26-2020; TAm eff. 3-10-2020.)