Kentucky Statutes 342.819 – Dividends
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On an annual basis, the board may declare a dividend in accordance with Subtitle 24 of KRS Chapter 304, and distribute the same in the form of premium discounts, dividends, or a combination of dividends and discounts, at its discretion, if:
(1) The funding obtained pursuant to KRS § 342.829 has been repaid in full;
(2) An independent actuarial report of the prior year‘s operations has been completed and reviewed by the board;
(3) The authority has met all expenses for administration and claims for the prior year;
and
(4) Adequate reserves exist to pay all claims.
Effective: April 4, 1994
History: Created 1994 Ky. Acts ch. 181, Part 12, sec. 48, effective April 4, 1994.
(1) The funding obtained pursuant to KRS § 342.829 has been repaid in full;
Terms Used In Kentucky Statutes 342.819
- Board: means the Workers' Compensation Board. See Kentucky Statutes 342.0011
- premium: includes the initial consideration plus any reimbursements invoiced for losses, expenses, or fees charged under the deductibles. See Kentucky Statutes 342.0011
- Year: means calendar year. See Kentucky Statutes 446.010
(2) An independent actuarial report of the prior year‘s operations has been completed and reviewed by the board;
(3) The authority has met all expenses for administration and claims for the prior year;
and
(4) Adequate reserves exist to pay all claims.
Effective: April 4, 1994
History: Created 1994 Ky. Acts ch. 181, Part 12, sec. 48, effective April 4, 1994.