(1) Any person in whose name more than twenty-five (25) motor vehicles are registered may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the cabinet as provided in subsection (2) of this section.
(2) The cabinet may, in its discretion, upon the application of such a person, issue a certificate of self-insurance when it is satisfied that the person is possessed and will continue to be possessed of ability to pay judgments obtained against the person.

Terms Used In Kentucky Statutes 187.600

  • Cabinet: means the Transportation Cabinet. See Kentucky Statutes 187.290
  • Judgment: means any judgment which has become final by expiration without appeal of the time within which an appeal might have been perfected, or by final affirmation on appeal, rendered by a court of competent jurisdiction of any state or of the United States, upon a cause of action arising out of the ownership, maintenance or use of any motor vehicle, for damages, including damages for care and loss of services, because of bodily injury to or death of any person, or for damages because of injury to or destruction of property, including the loss of use thereof, or upon a cause of action on an agreement of settlement for such damages. See Kentucky Statutes 187.290

(3) The cabinet may upon reasonable grounds cancel a certificate of self-insurance subject to the certificate holder being afforded the opportunity for a hearing to be conducted in accordance with KRS Chapter 13B. Failure to pay any judgment within thirty (30) days after the judgment becomes final constitutes a reasonable ground for the cancellation of a certificate of self-insurance.
Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 318, sec. 74, effective July 15, 1996. — Created
1946 Ky. Acts ch. 118, sec. 34, effective January 1, 1947