2006 Kentucky Revised Statutes - .060   Annual reports -- Organizational documents -- Proof of excess insurance coverage -- Statement of financial condition.

304.50-060 Annual reports -- Organizational documents -- Proof of excess insurance coverage -- Statement of financial condition. (1) The information and reports required by this section shall be filed by the self- insured group with the executive director on an annual basis. (2) Within one hundred twenty (120) days before the expiration of each self-insurance year, the self-insured group shall file: (a)  Copies of all fidelity bonds, security deposits, and letters of credit; (b)  Any material change in the administration of the group, including any change in the organizational documents, change in the administrator, or a change in the service organization or fiscal agent; (c)  An attested statement relating to conflicts of interest and compliance with KRS 304.50-105; and (d)  Any other information the executive director may require. (3) Within ten (10) days before the expiration of each self-insurance year, the self- insured group shall file proof of excess insurance coverage for the ensuing year. (4) Within one hundred twenty (120) days from the end of the self-insured group's fiscal year, the group shall file the statement of financial condition required by KRS 304.50-110 and any other relevant financial information requested by the executive director. Within forty-five (45) days from the end of each fiscal quarter, the self- insured group shall file a statement of financial condition along with an acknowledgment signed by the board of trustees or its authorized agent indicating that the statement has been presented to the board and any other relevant financial information requested by the executive director, including a balance sheet, and income and cash flow statement, on a form prescribed by the executive director. Effective: March 1, 2005 History: Created 2005 Ky. Acts ch. 7, sec. 12, effective March 1, 2005. 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