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304.9-051 Definitions for KRS 304.9-052 and 304.9-371 to 304.9-377.
As used in KRS 304.9-052 and 304.9-371 to 304.9-377:
(1) An "administrator" is an individual or business entity who collects charges or
premiums from or who adjusts or settles claims on, residents of this state in
connection with life insurance, health insurance, annuities, nonprofit hospital,
medical-surgical, dental, and health service corporation contracts, health
maintenance organization contracts, or other life, health, or annuity benefit plans.
The following are not considered to be acting as administrator:
(a) An employer acting on behalf of its employees or the employees of one (1) or
more subsidiary or affiliated corporations of the employer;
(b) A union on behalf of its members;
(c) An insurer, which is acting as the insurer with respect to the contract if the
insurer is authorized or permitted to transact business in Kentucky or if the
contract is lawfully delivered or issued for delivery by it in and pursuant to the
laws of a state in which it was authorized or permitted to do business;
(d) A life or health insurance agent licensed in Kentucky whose activities are
limited exclusively to the sale of insurance;
(e) A creditor on behalf of its debtors with respect to insurance covering a debt
between the creditor and its debtors;
(f) A trust, its trustees, agents, and employees acting thereunder, established in
conformity with 29 U.S.C. sec. 186;
(g) A trust exempt from taxation under 26 U.S.C. sec. 501(a), its trustees, and
employees acting thereunder, or a custodian, its agents, and employees acting
pursuant to a custodian account which meets the requirements of 26 U.S.C.
sec. 401(f);
(h) A bank, credit union, or other financial institution which is subject to
supervision or examination by federal or state banking authorities;
(i) A credit card issuing company which advances for and collects premiums or
charges from its credit card holders who have authorized it to do so, provided
such company does not adjust or settle claims; or
(j) An individual who adjusts or settles claims in the normal course of practice or
employment as an attorney-at-law, and who does not collect charges or
premiums in connection with coverages issued by insurers.
(2) An "insured" is a person covered under an insurance contract, nonprofit hospital,
medical-surgical, dental, and health service corporation contract, health
maintenance organization contract, or other source of benefits.
Effective: July 15, 2002
History: Amended 2002 Ky. Acts ch. 273, sec. 8, effective July 15, 2002. -- Created
1986 Ky. Acts ch. 162, sec. 2, effective July 15, 1986.
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