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2017 Kentucky Revised Statutes
CHAPTER 304 - INSURANCE CODE
Subtitle 45 - Product Liability Risk Retention Groups
304.45-050 Purchasing groups -- Exemptions from certain laws regarding liability insurance. (Effective January 1, 2018)

Universal Citation: KY Rev Stat § 304.45-050-4 (2017)
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304.45-050 Purchasing groups -- Exemptions from certain laws regarding liability insurance. (Effective January 1, 2018) A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt from any law regarding liability insurance for the purchasing group that would: (1) Prohibit the establishment of a purchasing group; (2) Make it unlawful for an insurer to provide or offer to provide to a purchasing group or its members insurance on a basis that provides advantages based on the purchasing group's loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages, or other matters; (3) Prohibit a purchasing group or its members from purchasing insurance on a group basis described in subsection (2) of this section; (4) Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time; (5) Require that a purchasing group have a minimum number of members, common ownership or affiliation, or certain legal form; (6) Require that a certain percentage of a purchasing group obtain insurance on a group basis; (7) Otherwise discriminate against a purchasing group or any of its members; or (8) Require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance agent or broker residing in this state. Effective:January 1, 2018 History: Repealed and reenacted 2017 Ky. Acts ch. 16, sec. 5, effective January 1, 2018. -- Amended 2010 Ky. Acts ch. 166, sec. 13, effective July 15, 2010. -Amended 1990 Ky. Acts ch. 165, sec. 5, effective July 13, 1990. -- Created 1986 Ky. Acts ch. 308, sec. 5, effective July 15, 1986.
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