304.23 -030 Outstanding liability -- Amount. A mortgage guaranty insurer shall not at any time have outstanding a total liability net of reinsurance, in excess of twenty -five (25) times its capital, unassigned funds and contingency reserve. It shall not insure loans secured by properties in a single housing tract or a contiguous tract (not separated by more than one -half (1/2) mile) in excess of ten percent (10%) of its capital, unassigned funds and contingency reserve. Effective: June 18, 1970 History: Created 1970 Ky. Acts ch. 301, subtit. 23, sec. 3, effective June 18, 1970.
Kentucky Legal Code