The KACo All Lines Fund (KALF) Board of Trustees has unanimously voted to declare a dividend in the amount of $3,000,000. This historic dividend declaration applies to members of KALF during the July 1, 2005 – July 1, 2006 policy period who are also current members. The dividend will be payable to the members on a pro rata distribution basis.

Vice Chairman Bobby Carpenter, when making his motion at the Aug. 26 meeting, explained some of the thoughts and reasoning that went into this decision: “In light of the recent examination report from the Kentucky Department of Insurance, wherein the department has affirmed the members equity position of KALF for the period of July 1, 2004 – June, 30, 2008, and whereby the preliminary income statement for the period ending June 30, 2009 indicates another positive income at year end; this simply makes sense every way you look at it.”

Board Chairman Larry Whitaker said, “The time is right, and we are extremely excited and very proud of this moment in our history. This is the first time since the inception of KALF in 1987 that we have been in such a successful and stable financial position.” Also, Whitaker said that the dividend “in no way affects the current rate guarantee and three-year policy that members of KALF enjoy through July 1, 2012.”

KACo Director of Insurance Joe Greathouse said there was “not enough room” in COUNTY LINE to extend all of his thanks and appreciation over the last decade for those who have played an important role in getting KALF to this point. “Our board, staff, agents, service providers, regulatory officials, and most importantly our members, have worked so hard as a team for a common cause.”

Bringing KALF from “tough times in the past to this point in its journey is an accomplishment for us all to be very proud of,” said Greathouse.