Title XXV, Business and Financial Institutions

The association shall file in the office of the commissioner annually, on or before the first day of each March, a statement containing information with respect to its transaction, condition, operations, and affairs during the preceding year. Such statement shall contain such mat…

The commissioner shall make an examination into the affairs of the association at least annually. Such examination shall be conducted and the report thereon filed in the manner prescribed in KRS Chapter 304, Subtitle 2. The expenses of such examinations shall be paid by the assoc…

There shall be no liability on the part of, and no cause of action of any nature shall arise against the association, the commissioner or the commissioner's authorized representatives or any other person or organization, for any statements or actions made in good faith by them du…

No member of the board of directors of the stabilization reserve fund who is otherwise a public officer or employee shall suffer a forfeiture of his office or employment or any loss or diminution in the rights and privileges appertaining thereto, by reason of membership on the bo…

It is the purpose of KRS 304.40-260 to 304.40-320 to promote the health and general welfare of the inhabitants of the Commonwealth through the adoption of reforms in health care malpractice claims. Such purpose is hereby declared to be a public purpose for which public funds may …

As used in KRS 304.40-250 to 304.40-320, the following words and terms shall be defined as follows: (1) "Health care provider" means any physician, osteopath, dentist, podiatrist, nurse or nurse's assistant, certified registered nurse anesthetist, physical or occupational therapi…

(1) In any malpractice action against any health care provider, no payment made or offered by or on behalf of the health care provider to the claimant to meet the reasonable expenses of health care, custodial care, loss of earnings, rehabilitation care, or other essential goods o…

In any malpractice action in which more than one (1) health care provider is named as a defendant concerning a single injury, the jury shall be instructed that it may apportion damages in different percentages against the defendants or may return a verdict of joint and several li…

No malpractice liability shall be imposed upon any health care provider on the basis of an alleged breach of any guaranty, warranty, contract or assurance of results to be obtained from any procedure undertaken in the course of providing health care, unless such guaranty, warrant…

(1) All malpractice claims settled or adjudicated to final judgment against a health care provider shall be reported to the commissioner of insurance by the malpractice insurer of the health care provider or the health care provider if self-insured, within sixty (60) days followi…

In any action brought for treating, examining, or operating on a claimant wherein the claimant's informed consent is an element, the claimant's informed consent shall be deemed to have been given where: (1) The action of the health care provider in obtaining the consent of the pa…

Catchline at repeal: Scope of KRS 304.400 to 304.453.

Catchline at repeal: Eligible investments.

Catchline at repeal: General qualifications.

Catchline at repeal: Investment limit with any one person.

Catchline at repeal: United States obligations.

Catchline at repeal: Convertibility of permitted investment to a kind not permitted, or receipt of other property with investment does not bar investment.

Catchline at repeal: State, Canadian and provincial obligations.

Catchline at repeal: County, municipal, school obligations.

Catchline at repeal: Public improvement bonds.

The declaration of legislative policy of this subtitle is as follows: It is hereby declared by the general assembly of the Commonwealth of Kentucky that the availability of legal professional liability insurance for attorneys-at-law is a necessity; and without such insurance, leg…

As used in this subtitle: (1) "Association" means the Joint Underwriting Association established pursuant to the provisions of this subtitle; (2) "Legal professional liability insurance" means insurance as defined in KRS 304.5- 070(1)(j); (3) "Commissioner" means the commissioner…

Powers of association. (1) A temporary Joint Underwriting Association is created, consisting of all insurers authorized to write and engage in writing in the Commonwealth on a direct basis the following lines of insurance, as reported in the companies' annual statements: (a) Work…

(1) Within forty-five (45) days following the order of the commissioner implementing the operation of the association, the directors of the association shall submit to the commissioner for his or her review a proposed plan of operation, consistent with the provisions of this subt…

plan -- Deficit -- Contributions by members. (1) All policies issued by the association shall be written for the term of one (1) year. The directors of the association may elect to issue policies on an occurrence basis or a claims made basis. No policy form shall be used by the a…

(1) There is hereby created a stabilization reserve fund which shall be administered by three (3) directors, one (1) of whom shall be the commissioner or the commissioner's deputy. The remaining two (2) directors shall be appointed by the commissioner. One (1) shall be a represen…

coverage. (1) Any attorney-at-law shall, on or after the effective date of the plan of operation, be entitled to apply to the association for legal professional liability insurance coverage. Such application may be made on behalf of an applicant by an agent authorized by the appl…

All insurers which are members of the association shall participate in its writings, expenses, servicing, allowance, management fees, and losses in the proportion that the net direct premiums of each such member, excluding that portion of premiums attributable to the operation of…

The association shall be governed by a board of thirteen (13) directors. Five (5) directors shall be elected by the insurance companies which are members of the association, at a meeting of the member companies at a time and place designated by the commissioner, by cumulative vot…

(1) Any applicant to the association, any person insured pursuant to this subtitle, or their representatives, or any affected insurer, may appeal to the commissioner within thirty (30) days after any rule, action, or decision by or on behalf of the association, with respect to th…

The association shall file in the office of the commissioner annually, on or before the first day of each March, a statement containing information with respect to its transactions, condition, operations, and affairs during the preceding year. Such statement shall contain such ma…

The commissioner shall make an examination into the affairs of the association at least annually. Such examination shall be conducted and the report thereon filed in the manner prescribed in KRS Chapter 304, Subtitle 2. The expenses of such examinations shall be paid by the assoc…

There shall be no liability on the part of, and no cause of action of any nature shall arise against the association, the commissioner or the commissioner's authorized representatives or any other person or organization, for any statements or actions made in good faith by them du…

No member of the board of directors of the stabilization reserve fund who is otherwise a public officer or employee shall suffer a forfeiture of his office or employment or any loss or diminution in the rights and privileges appertaining thereto, by reason of membership on the bo…

Catchline at repeal: Public utility securities.

Catchline at repeal: Railroad securities.

Catchline at repeal: Equipment securities.

Catchline at repeal: Securities of other corporations.

Catchline at repeal: Preferred stocks.

Catchline at repeal: Bank stocks.

Catchline at repeal: Common stocks.

This subtitle shall be known and may be cited as the Kentucky Life and Health Insurance Guaranty Association Act.

The purpose of this subtitle is to protect the persons specified in KRS 304.42-030(1), subject to certain limitations, against failure in the performance of contractual obligations under life, health, and annuity policies, plans, or contracts specified in KRS 304.42- 030(2) becau…

(1) This subtitle shall provide coverage for the policies and contracts specified in subsection (2) of this section: (a) To persons who, regardless of where they reside (except for nonresident certificate holders or enrollees under group policies or contracts), are the beneficiar…

This subtitle shall be construed to effect the purpose under KRS 304.42-020.

As used in this subtitle: (1) "Account" means either of the three (3) accounts created under KRS 304.42-060; (2) "Association" means the Kentucky Life and Health Insurance Guaranty Association created under KRS 304.42-060; (3) "Authorized assessment" or the term "authorized" when…

Accounts -- Supervision by commissioner. (1) There is created a nonprofit legal entity to be known as the Kentucky Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condition of their license or authority to tr…

(1) The board of directors of the association shall consist of not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commiss…

(1) If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer and that are approved by the commissioner: (a) Guarantee, assume…

under protest. (1) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessm…