2006 Kentucky Revised Statutes - .342.342 Annual review of individual self-insurance administrative regulations -- Annual report on financial soundness of self-insurers and self-insurance groups -- Division of Security and Compliance expansion.
342.342 Annual review of individual self-insurance
administrative regulations --Annual report on financial
soundness of self-insurers and self-insurancegroups --
Division of Security and Compliance expansion. (1)
Notwithstanding the provisions of KRS 342.340, KRS 342.350, or any
administrative regulations promulgated pursuant to those
provisions, the executive director shall annually review the
adequacy of the financial or other security requirements contained
in administrative regulations, promulgated pursuant to the
individual self-insurance provisions in this chapter. The executive
director shall report the results of the review to the Labor and
Industry Committee of the General Assembly and any recommendations
for proposed changes to insure the financial soundness of the
individual self-insurers authorized pursuant to this chapter. In
addition, the executive director shall report not less often than
annually a summary report on the financial soundness of the
individual self-insurers. (2) The Labor and Industry Committee of
the General Assembly shall annually review the administrative
regulations promulgated pursuant to the individual provisions under
this chapter. (3) On July 1, 1994, the Division of Security and
Compliance of the Office of Workers' Claims in the Department of
Labor shall be expanded by five (5) employees. These additional
employees shall be employed for the purpose of conducting financial
audits, examinations, and reviews and other activities necessary to
ensure and monitor the financial soundness of the individual
self-insured employers authorized pursuant to KRS 342.340.
Effective: March 1, 2005 History: Amended 2005 Ky.
Acts ch. 7, sec. 42, effective March 1, 2005. -- Created 1994 Ky.
Acts ch. 181, Part 11, sec. 38, effective April 4, 1994.
Legislative Research Commission Note (3/1/2005). 2005 Ky.
Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser
of Statutes to correct statutory references to agencies and
officers whose names have been changed in 2005 legislation
confirming the reorganization of the executive branch. Such a
correction has been made in this section. Page 1 of 1
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.