SECURITIES AND EXCHANGE COMMISSION

 

Washington, D. C. 20549

 

FORM 10-K/A

 

ANNUAL REPORT PURSUANT TO SECTION 13	OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

FOR THE FISCAL YEAR ENDED DECEMBER 31,	2007

 

COMMISSION FILE NUMBER 0-1999

 

**KENTUCKY INVESTORS, INC.**

 

(Exact name of registrant as specified	in its Charter)

 

 

| KENTUCKY
61-6030333
(State or Other				Jurisdiction of
(IRS Employer
Incorporation or				Organization)
Identification Number)
 

 

200 Capital Avenue,	Frankfort, Kentucky 40601

(Address of Principal Executive	Offices)

 

 

Registrant's telephone number,	including area code 502-223-2361

 

 

Securities registered pursuant to	Section 12(g) of the Act:

 

 

Title of Each Class

Common $1 Par Value

 

 

Name of Each Exchange on Which	Registered

OTC BULLETIN BOARD

 

 

Securities registered pursuant to	Section 12(g) of the Act:

 

 

Common Capital Stock Par Value $1.00	Per Share

 

Indicate by check	mark if the registrant is a well-known seasoned issuer, as defined in Rule	405 of the Securities Act.  YES  (  )    NO  (X)

 

Indicate by check	mark if the registrant is not required to file reports pursuant to Section	13 or Section 15(d) of the Act.  YES  (  )    NO  (X)

 

Indicate by check mark whether the	registrant (1) has filed all reports required to be filed by Section 13 or	15(d) of the Securities Exchange Act of 1934 during the preceding 12 months	(or for such shorter period that the registrant was required to file such	reports), and (2) has been subject to such filing requirements for the past	90 days.  YES  (X)         NO  (  )

 

Indicate by check mark if disclosure	of delinquent filers pursuant to Item 405 of Regulation S-K (229.405 of this	chapter) is not contained herein, and will not be contained, to the best of	registrant's knowledge, in definitive proxy or information statements	incorporated by reference in Part III of this form 10-K or any amendments to	this Form 10-K.  (X)

 

Indicate by check mark whether the	registrant is a large accelerated filer, an accelerated filer, a	non-accelerated filer, or a smaller reporting company.  See the definitions	of "large accelerated filer," "accelerated filer," and "smaller reporting	company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated	filer  (  )               Accelerated filer  (  )            Non-accelerated	filer  ( )(Do not check if a smaller reporting	company)                                   Smaller Reporting Company (X)

 

Indicate by check mark whether the	registrant is a shell company (as defined in Rule 12b-2 of the	Act).  YES  (  )    NO  (X)

 

State the aggregate market value of	the voting stock held by nonaffiliates of the registrant computed by	reference to the average bid and asked price of such common equity as of	June 30, 2007.     $28,558,787

 

Indicate the number of shares	outstanding of each of the registrant's classes of common stock, as of the	latest practicable date.

 

Class

Common Capital Stock

 

Outstanding at March 17, 2008

1,113,050.720

 

Documents	Incorporated by Reference:

 

(1) Portions of	the Annual Report to the Stockholders for the year ended December 31, 2007	(Form 10-K, Items 1, 7, 8 and 15)

 

(2) Portions of	the Proxy Statement dated April 4, 2008, for the Annual Meeting of	Stockholders to be held May 8, 2008 (Form 10-K, Items 10, 11, 12, 13 and	14.)

 
	 
**EXPLANATORY NOTE**

 

We arefiling this Form 10-K/A, which serves as a first amendment to our Annual Reporton Form 10-K for the year ended December 31, 2007, originally filed on March 21,2008, to clarify the effectiveness of our disclosure controls and procedures andthe basis of the conclusion on our evaluation of our disclosure controls andprocedures. We have made no otherchanges to the Form 10-K as filed on March 21, 2008, other than revisions to theRule 13a-14(a) Certifications in Exhibits 31.1 and 31.2, which are attached asExhibits to this Form 10-K/A, and the provision ofnewly executed Section 1350 Certifications in Exhibit 32.1.

 

 

PART II

 

 

 

Item 9A(T). Controlsand Procedures (This report shall not be deemed to be filed for purposes ofSection 18 of the Exchange Act or otherwise subject to the liabilities of thatsection).

 

(a)  Management is responsiblefor establishing and maintaining adequate internal control over the Company'sfinancial reporting.  As of the end of the period covered by this annual report,the Company carried out an evaluation, under the supervision and with theparticipation of the Company's management, including the Company's ChiefExecutive Officer and Chief Financial Officer, of the effectiveness of thedesign and operation of the Company's internal controls over financial reportingas defined in Rule 13a-15(e) and 15d-15(e) of the Securities Exchange Act of1934.  The standard measures adopted by management in making its evaluation arethe measures in the Internal-Control Integrated Framework published by theCommittee of Sponsoring Organizations of the Treadway Commission.  This annualreport does not include an attestation report of the Company's registered publicaccounting firm regarding internal control over financial reporting. Management's report was not subject to the attestation by the Company'sregistered public accounting firm pursuant to temporary rules of the Securitiesand Exchange Commission that permit the Company to provide only management'sreport in this annual report.

 

The Company carried out an evaluation, under the supervision and with theparticipation of the Company's management, including the Company's ChiefExecutive Officer and Chief Financial Officer, of the Company's disclosurecontrols and procedures as defined in Rule 13a-15(e) and 15d-15(e) of theSecurities Exchange Act of 1934.  Based on that evaluation, the Chief ExecutiveOfficer and Chief Financial Officer concluded that the Company's disclosurecontrols and procedures are effective in timely alerting them to materialinformation relating to the Company (including its consolidated subsidiaries)required to be included in this Annual Report on Form 10-K.    

 

(b)  Changes to Internal Control OverFinancial Reporting

 

There were no changes in the Company'sinternal control over financial reporting during the three months ended December31, 2007 that have materially affected, or are reasonably likely to materiallyaffect, the Company's internal control over financial reporting.

 

 

PART IV

 

Item 15. Exhibitsand Financial Statement Schedules

 

(a)1. The following financial statementsincorporated herein by reference in Item 8 to the Company's Annual Report toStockholders for the year ended December 31, 2007 (pages 16-38) are filed asExhibit 1 thereto:

 

   Report ofIndependent Registered Public Accounting Firm

 

   ConsolidatedBalance Sheets as of December 31, 2007 and 2006

 

   For each of thetwo years in the period ended December 31, 2007:

 

      ConsolidatedStatements of Income

 

      ConsolidatedStatements of Stockholders' Equity

 

      ConsolidatedStatements of Cash Flows

 

      Notes toConsolidated Financial Statements

 

 

**INDEX TO EXHIBITS**
 
(a)3.			Listing of Exhibits  
Exhibit 
Number
Description of Exhibits  
3.1**
Articles of Incorporation of			the Company, as amended, is incorporated by reference as Exhibit 3.1			to the Company's registration statement on Form S-4 filed on			10-7-1999 (File No. 333-87947).  
3.2**
By-Laws of the Company, as			amended, are incorporated by reference as Exhibit 3.2 to the			Company's registration statement on Form S-4 filed on 10-7-1999			(File No. 333-87947).  
11**
Statements re: computation of			Per Share Earnings is contained in Note A to the Consolidated			Financial Statements, "Common Stock and Earnings per Share", on			page 24 of the Annual Report to the Stockholders for the year			ended December 31, 2007, and is incorporated herein by reference.  
13**
Annual Report to the			Stockholders for the year ended December 31, 2007 is attached hereto			as Exhibit 1 and is incorporated herein by reference.  
23**
Consent of Independent			Registered Public Accounting Firm.

31.1 &			31.2
Certifications pursuant to			Securities and Exchange Act Rule 13a-14(a)/15d-14(a), as adopted			pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1 
Certifications Pursuant to 18			U.S.C. Section 1350, as adopted pursuant to Section 906 of the			Sarbanes-Oxley Act of 2002.
 

 

*The material included in this Reportshall not be deemed to be "filed" with the Commission or otherwise subject tothe liabilities of Section 18 of the Act, except to the extent that thisregistrant specifically incorporates it in its Annual Report on this Form 10-Kby reference.

 

** Previously filed.

 

(b) See Item 15(a)3 above.

 

 

SIGNATURES

 

 

Pursuant to the requirements of Section 13or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly causedthis Form 10-K to be signed on its behalf by the undersigned, thereunto dulyauthorized.

 

 
 
KENTUCKY			INVESTORS, INC. 
 
			September 24,			2008
 
DATE
/s/Harry			Lee Waterfield II 
BY: Harry			Lee Waterfield II 
ITS:			Chairman of the Board and President
 

Pursuant to the requirements of theSecurities Exchange Act of 1934, this report is signed below by the followingpersons on behalf of the Registrant and in the capacities and on the datesindicated.

 

/s/Harry LeeWaterfield II

Harry Lee WaterfieldII

Chairman of the Boardand President

Principal ExecutiveOfficer

September 24, 2008

 

 

/s/Robert M. Hardy,Jr.

Robert M. Hardy, Jr.

Vice President,General Counsel and Director

September 24, 2008

 

 

/s/Jimmy R. McIver

Jimmy R. McIver

Treasurer

September 24, 2008

 

 

/s/Raymond L. Carr

Raymond L. Carr

Chief FinancialOfficer

Vice President

September 24, 2008

 

 

/s/Gordon C. Duke

Gordon C. Duke

Director

September 24, 2008

 

 

/s/Helen S. Wagner

Helen S. Wagner

Director

September 24, 2008

 

 

/s/Harold G. Doran

Harold G. Doran

Director

September 24, 2008

 

 

/s/David W. Reed

David W. Reed

Director

September 24, 2008

 

 

/s/Jerry F. Howell,Jr.

Jerry F. Howell, Jr.

Director

September 24, 2008

 

 

/s/ Howard L. Graham

Howard L. Graham

Director

September 24, 2008

 

 

/s/Michael F.Dudgeon, Jr.

Michael F. Dudgeon,Jr.

Director

September 24, 2008

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