Kentucky Statutes 304.50-010 – Qualification as workers’ compensation self-insured group — Power to contract, sue, and be sued — Commissioner to promulgate administrative regulations — Governor may assign regulatory authority — Limitation on app…
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(1) The commissioner may authorize twenty (20) or more employers with common interests or membership in a bona fide trade association, or two (2) or more governmental entities, to enter into agreements to pool their liabilities under KRS Chapter 342 for the purpose of qualifying as a workers’ compensation self-insured group under this subtitle and KRS § 342.350. Any heterogeneous self-insured group so authorized may contract and may sue and be sued in the name adopted by the group.
(2) The commissioner shall promulgate administrative regulations as necessary to govern admission, certification, and regulation of workers’ compensation self- insured groups as authorized by this section and KRS § 342.350. The commissioner shall take any and all action necessary to effectuate the provisions of this subtitle. The commissioner shall be responsible for maintaining records obtained or prepared in association with this oversight.
(3) The Governor may assign the regulatory authority under this subtitle to another board or agency pursuant to KRS § 12.028.
(4) Except as specifically provided in this subtitle, no other provision of this chapter shall apply to a workers’ compensation self-insured group.
Effective: June 25, 2013
History: Amended 2013 Ky. Acts ch. 75, sec. 1, effective June 25, 2013. — Amended
2010 Ky. Acts ch. 24, sec. 1624, effective July 15, 2010. — Created 2005 Ky. Acts ch. 7, sec. 2, effective March 1, 2005.
(2) The commissioner shall promulgate administrative regulations as necessary to govern admission, certification, and regulation of workers’ compensation self- insured groups as authorized by this section and KRS § 342.350. The commissioner shall take any and all action necessary to effectuate the provisions of this subtitle. The commissioner shall be responsible for maintaining records obtained or prepared in association with this oversight.
Terms Used In Kentucky Statutes 304.50-010
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Bona fide trade association: means an association of employers created for a noninsurance trade purpose and which has been operating in the Commonwealth for at least two (2) years prior to its sponsorship of a self-insured group. See Kentucky Statutes 304.50-015
- Common interests: means employers that are engaged in similar activities, share common standard industrial classification codes and common risk factors. See Kentucky Statutes 304.50-015
- Contract: A legal written agreement that becomes binding when signed.
- Governmental entities: means cities, counties, urban-county governments, charter county governments, consolidated local governments, school districts, and other political subdivisions of the Commonwealth, and their boards, agencies, authorities, and commissions. See Kentucky Statutes 304.50-015
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Oversight: Committee review of the activities of a Federal agency or program.
- Self-insured group: means a group self-insurance fund. See Kentucky Statutes 304.50-015
(3) The Governor may assign the regulatory authority under this subtitle to another board or agency pursuant to KRS § 12.028.
(4) Except as specifically provided in this subtitle, no other provision of this chapter shall apply to a workers’ compensation self-insured group.
Effective: June 25, 2013
History: Amended 2013 Ky. Acts ch. 75, sec. 1, effective June 25, 2013. — Amended
2010 Ky. Acts ch. 24, sec. 1624, effective July 15, 2010. — Created 2005 Ky. Acts ch. 7, sec. 2, effective March 1, 2005.