2006 Kentucky Revised Statutes - .810   Conditions for issuance of certificate of filing.

304.17A-810 Conditions for issuance of certificate of filing. Upon receipt of an application for a certificate of filing, the executive director shall issue or deny the same. A certificate of filing shall be issued only if the executive director finds that the applicant has complied with KRS 304.17A-808, has paid the application fee, and the executive director is satisfied that the following conditions are met: (1)  The persons responsible for the conduct of the affairs of the self-insured employer- organized association group are competent, trustworthy, and possess good reputation; (2)  The self-insured employer-organized association group is financially responsible and may reasonably be expected to meet its obligations to participants and prospective participants. In making this determination, the executive director may consider: (a)  The adequacy of working capital; (b)  Any agreement with an insurer, a government, or any other organization for insuring the payment of health claims or the provision for automatic applicability of an alternative coverage in the event of discontinuance of the self-insurance group; and (c)  Compliance with KRS 304.17A-812, as a guarantee that the obligations will be duly performed. Effective: June 24, 2003 History:Created 2003 Ky. Acts ch. 78, sec. 6, effective June 24, 2003. Legislative Research Commission Note (6/20/2005). 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