342.1222 Refunds or credits on canceled or returned premiums.

204 words·~1 min read·/ky/chapter-342/342-1222

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

(1)Every insurance carrier shall be entitled to a refund or credited with assessments

paid on all canceled or returned premiums, including dividends paid or credited to

policyholders, if the assessments are returned by the insurance carrier to the

policyholder in addition to the canceled or returned premium.

(2)The assessments paid pursuant to the provisions of this chapter shall be refunded or

credited in the manner provided in KRS 134.580, provided that the claim for refund

or credit, with respect to all claims filed on or after July 13, 1990, is made by the

insurance carrier within four

(4)years of the date the insurance carrier returns the

assessments to the employer.

(3)A claim for refund or credit shall be made on a form prescribed by the funding

commission and shall contain any information that the funding commission may

require.

(4)No insurance carrier shall be entitled to a refund or credit of the assessments paid

pursuant to the provisions of this chapter where the assessments have been collected

from an employer as provided by KRS 342.122, unless the amount of assessments

collected from the employer are refunded to him by the insurance carrier who paid

the assessments to the funding commission.