Kentucky Statutes 304.33-165 – Appearances of rehabilitator before committee
Current as of: 2024 | Check for updates
|
Other versions
(1) The rehabilitator shall appear before the committee no more than two (2) weeks after he has disclosed his final recommendation, unless the chairman has designated a date beyond the two (2) week period, to disclose his recommendation to the committee and to hear the comments of the committee members.
(2) After the recommendation of the rehabilitator has been filed with the court, all confidentiality agreements entered into regarding the insurer in receivership shall be null and void.
(3) If any insurer is placed in receivership prior to or after the enactment of this section, and if, after a two (2) year period, the insurer’s receivership status remains unchanged, the rehabilitator shall appear before the Interim Joint Committee on Banking and Insurance or the Standing Committees on Banking and Insurance to update the members of the committee regarding the insurer.
Effective: July 15, 1994
History: Created 1994 Ky. Acts ch. 496, sec. 16, effective July 15, 1994.
Legislative Research Commission Note (7/15/94). The drafter advises, and it appears from context to be the case, that the committee referred to in subsection (1) of this statute is the committee or committees indicated in subsection (3).
(2) After the recommendation of the rehabilitator has been filed with the court, all confidentiality agreements entered into regarding the insurer in receivership shall be null and void.
Terms Used In Kentucky Statutes 304.33-165
- Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
- Statute: A law passed by a legislature.
- Year: means calendar year. See Kentucky Statutes 446.010
(3) If any insurer is placed in receivership prior to or after the enactment of this section, and if, after a two (2) year period, the insurer’s receivership status remains unchanged, the rehabilitator shall appear before the Interim Joint Committee on Banking and Insurance or the Standing Committees on Banking and Insurance to update the members of the committee regarding the insurer.
Effective: July 15, 1994
History: Created 1994 Ky. Acts ch. 496, sec. 16, effective July 15, 1994.
Legislative Research Commission Note (7/15/94). The drafter advises, and it appears from context to be the case, that the committee referred to in subsection (1) of this statute is the committee or committees indicated in subsection (3).