2006 Kentucky Revised Statutes - .125   Discounting authorized -- Requirements -- Approval by executive director.

304.50-125 Discounting authorized -- Requirements -- Approval by executive director. (1) In the computation of the retained liabilities of the self-insured group, reserves for claims or projected reserves for claims may be discounted for their present value if: (a)  The discounting is based upon the computation of a qualified actuary; and (b)  The computations and supporting documentation are filed annually in writing with the executive director. (2) Discounting shall be approved by the executive director unless: (a)  The actuary is found to be unqualified by the executive director; or (b)  The computations and supporting documentation presented by the actuary are rejected based on the opinion of the executive director's qualified actuary. Effective: March 1, 2005 History: Created 2005 Ky. Acts ch. 7, sec. 25, 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