342.839 Applicability of specified provisions of law.
219 words·~1 min read·
/ky/chapter-342/342-839A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Notwithstanding any provision of KRS Chapter 304 to the contrary, the authority
shall be exempt from participation, and shall not join, contribute financially to, nor
be entitled to the protection of, any plan, pool, association, guarantee, or insolvency
fund authorized or required by KRS Chapter 304.
(2)Except as provided in subsection
(1)of this section, the authority shall be subject to
the same assessments applicable to workers' compensation premiums as domestic
mutual insurance companies licensed to do business in the Commonwealth and
governed by the provisions of Subtitle 24 of KRS Chapter 304.
(3)Notwithstanding the provisions of Subtitle 24 of KRS Chapter 304 or any other
provisions of the Kentucky Revised Statutes to the contrary, the minimum number
of directors and procedures required for incorporating a mutual insurance company,
requirements relating to the name of a mutual insurance company, and any licensing
requirements applicable to mutual insurance companies shall not apply to the
authority.
(4)The authority shall be considered an insurer for purposes of KRS 342.122 and other
provisions of this chapter.
(5)Notwithstanding any provision of KRS Chapter 304 to the contrary the authority
shall not be subject to the provisions of Subtitle 33 or other provisions of KRS
Chapter 304 that relate to the liquidation, rehabilitation, dissolution, or sale of any
insurance company.