With respect to any filing which, if approved, would result in a reduction of rates, the commissioner shall immediately order the proposed rates to be effective. If upon the commissioner’s review of the filing or as a result of a public hearing it appears that the proposed rates should be further reduced, the commissioner may order the insurer or rating organization to show cause within thirty (30) days why such rates should not be further reduced in accordance with the order.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1118, effective July 15, 2010. — Amended 1980 Ky. Acts ch. 187, sec. 4, effective July 15, 1980. — Created 1978 Ky. Acts ch. 256, sec. 8, effective June 17, 1978.