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304.48-260 Commissioner's enforcement authority.
(1)
(2)
After a hearing or upon agreement by the liability self-insurance group, the
commissioner may suspend or revoke the certificate of filing of a liability selfinsurance group, impose a civil penalty of up to five thousand dollars ($5,000) per
violation on a liability self-insurance group, or both, for:
(a) Violations of this subtitle or administrative regulations adopted thereunder;
(b) Obtaining a certificate of filing by unfair or deceptive means;
(c) Operating in a financially hazardous manner;
(d) Misappropriation, conversion, illegal withholding, or refusal to pay over upon
proper demand any moneys that belong to a member, an employee of a
member, or a person otherwise entitled thereto by the group or its
administrator; or
(e) Violations of Subtitle 12 of this chapter or administrative regulations
promulgated pursuant thereto.
The commissioner, in his or her discretion and without advance notice or a hearing
thereon, may suspend or revoke the certificate of filing of any liability selfinsurance group upon the commencement of the following proceedings:
(a) Receivership;
(b) Conservatorship;
(c) Rehabilitation; or
(d) Other delinquency proceedings.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1605, effective July 15, 2010; and ch. 48,
sec. 8, effective July 15, 2010. -- Created 1994 Ky. Acts ch. 358, sec. 26, effective
July 15, 1994.
Legislative Research Commission Note (7/15/2010). This section was amended by
2010 Ky. Acts chs. 24 and 48, which do not appear to be in conflict and have been
codified together.
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