342.819 Dividends.
96 words·~1 min read·
/ky/chapter-342/342-819A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.