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.