2023 Kentucky Statutes 342.902 – Definitions for KRS 342.900 to 342.912
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As used in KRS § 342.900 to KRS § 342.912, unless the context requires otherwise:
(1) “Insolvent self-insurer” means either an individual self-insured employer or a self- insured group who has failed to pay compensation as a result of a declaration of bankruptcy or insolvency by a court of competent jurisdiction, and whose security deposit has been called by the commissioner, or who has failed to provide compensation and who has been issued a certificate of default by the commissioner and whose security deposit has been called by the commissioner;
(2) “Member” means a self-insured employer or self-insured group that participates in a guaranty fund created pursuant to KRS § 342.900 to KRS § 342.912;
(3) “Guaranty fund” means one (1) of the three (3) guaranty funds established pursuant to KRS § 342.900 to KRS § 342.912;
(4) “Directors” means the board of directors of a guaranty fund; and
(5) “Certificate of default” means a notice issued by the commissioner based upon a finding that a self-insured employer or self-insured group has failed to pay compensation required by this chapter.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1857, effective July 15, 2010. — Amended 2005 Ky. Acts ch. 7, sec. 47, effective March 1, 2005. — Created 1996 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 21, effective December 12, 1996.
(1) “Insolvent self-insurer” means either an individual self-insured employer or a self- insured group who has failed to pay compensation as a result of a declaration of bankruptcy or insolvency by a court of competent jurisdiction, and whose security deposit has been called by the commissioner, or who has failed to provide compensation and who has been issued a certificate of default by the commissioner and whose security deposit has been called by the commissioner;
(2) “Member” means a self-insured employer or self-insured group that participates in a guaranty fund created pursuant to KRS § 342.900 to KRS § 342.912;
(3) “Guaranty fund” means one (1) of the three (3) guaranty funds established pursuant to KRS § 342.900 to KRS § 342.912;
(4) “Directors” means the board of directors of a guaranty fund; and
(5) “Certificate of default” means a notice issued by the commissioner based upon a finding that a self-insured employer or self-insured group has failed to pay compensation required by this chapter.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1857, effective July 15, 2010. — Amended 2005 Ky. Acts ch. 7, sec. 47, effective March 1, 2005. — Created 1996 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 21, effective December 12, 1996.