Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.16-090.Credit union groups

(1) The members eligible for insurance under the policy shall be all of the members of the credit union, or all except any for whom evidence of individual insurability is not satisfactory to the insurer, or all of any class or classes thereof;

(2) The premium for the policy shall be paid by the policyholder, either wholly from the credit union's funds, or partly from the credit union's funds and partly from funds contributed by the insured member specifically for the member's insurance. A policy shall insure all eligible members, or all except any for whom evidence of individual insurability is not satisfactory to the insurer; and

(3) The amounts of insurance under the policy must be based upon some plan precluding individual selection either by the insured members or by the policyholder.