223.430 Liability coverage -- Surety bond.

320 words·~1 min read·/ky/chapter-223/223-430

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Each application for issuance or renewal of a certificate shall be accompanied by a

proof of either split limits liability coverage for bodily injury of at least twenty-five

thousand dollars ($25,000) per person with an aggregate of at least fifty thousand

dollars ($50,000) and for property damage of at least fifty thousand dollars

($50,000) per accident with an aggregate of at least one hundred thousand dollars

($100,000), or single limits liability coverage of not less than one hundred thousand

dollars ($100,000) for all damages whether arising out of bodily injury or damage to

property as a result of any one

(1)accident or occurrence. Notice shall be given by

certified mail to the executive secretary and treasurer of the board by the insurer

upon lapse of coverage by the insurance company for any reason, including

nonpayment of premiums.

(2)Prior to the issuance of a driller certificate, proof of a surety bond must be filed

along with the application for a certificate. The penal sum of this bond shall be five

thousand dollars ($5,000), with the applicant designated as the principal obligor and

the Commonwealth designated as the obligee. The surety may be called on by the

secretary if the certified individual violates any design standards adopted as

administrative regulations pursuant to KRS 223.420 or 223.435 or provision of

KRS 223.405 to 223.460. The surety bond shall be used for the express purposes of

correcting the violations. Notice of lapse of coverage for any reason by the surety

shall be given by certified mail to the executive secretary and treasurer of the board

by the surety.

(3)A water well driller's assistant shall work under the liability insurance and surety

bond of the supervising certified water well driller, as required under subsections

(1)and

(2)of this section, unless the water well driller's assistant provides the

cabinet proof that he or she obtained liability insurance or a surety bond.