342.902 Definitions for KRS 342.900 to 342.912.
171 words·~1 min read·
/ky/chapter-342/342-902A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in KRS 342.900 to 342.912, unless the context requires otherwise:
(1)"Insolvent self-insurer" means either an individual self-insured employer or a self-
insured group who has failed to pay compensation as a result of a declaration of
bankruptcy or insolvency by a court of competent jurisdiction, and whose security
deposit has been called by the commissioner, or who has failed to provide
compensation and who has been issued a certificate of default by the commissioner
and whose security deposit has been called by the commissioner;
(2)"Member" means a self-insured employer or self-insured group that participates in a
guaranty fund created pursuant to KRS 342.900 to 342.912;
(3)"Guaranty fund" means one
(1)of the three
(3)guaranty funds established pursuant
to KRS 342.900 to 342.912;
(4)"Directors" means the board of directors of a guaranty fund; and
(5)"Certificate of default" means a notice issued by the commissioner based upon a
finding that a self-insured employer or self-insured group has failed to pay
compensation required by this chapter.