Kentucky Statutes 304.14-644 – Required disclosure of availability of Kentucky Long-Term Care Partnership Insurance Program
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(1) Each insurer or its agent, soliciting or offering to sell a policy that is intended to qualify as a partnership policy, shall provide each prospective applicant a Partnership Program Notice disclosing the availability of the Kentucky Long-Term Care Partnership Insurance Program as authorized in Section 6021 of the Deficit Reduction Act of 2005 and outlining the requirements and benefits of a partnership policy.
(2) The manner and content of the disclosure described in subsection (1) of this section shall be established through promulgation of administrative regulations by the Department of Insurance in coordination with the Cabinet for Health and Family Services.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1171, effective July 15, 2010. — Created
2008 Ky. Acts ch. 16, sec. 3, effective July 15, 2008.
Legislative Research Commission Note ((7/15/2008). A reference to “42 U.S.C. sec.
6021″ in subsection (1) of this section as it appears in 2008 Ky. Acts ch. 16, sec. 3, has been replaced with “Section 6021 of the Deficit Reduction Act of 2005” by the Reviser of Statutes during codification to correct a manifest clerical or typographical error. Consultation with the drafter and examination of the materials in the bill folder for House Bill 259 (which became 2008 Ky. Acts ch. 16) show that the former reference was intended to have been to the amendments made by Section 6021 of the Deficit Reduction Act of 2005 to various sections of 42 U.S.C. secs. 1395 et seq., and not to Section 6021 of that title, an unrelated section that was repealed in 2000. This correction has been made under the authority of KRS § 7.136(1).
(2) The manner and content of the disclosure described in subsection (1) of this section shall be established through promulgation of administrative regulations by the Department of Insurance in coordination with the Cabinet for Health and Family Services.
Terms Used In Kentucky Statutes 304.14-644
- agent: includes managing general agent unless the context requires otherwise. See Kentucky Statutes 304.9-085
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1171, effective July 15, 2010. — Created
2008 Ky. Acts ch. 16, sec. 3, effective July 15, 2008.
Legislative Research Commission Note ((7/15/2008). A reference to “42 U.S.C. sec.
6021″ in subsection (1) of this section as it appears in 2008 Ky. Acts ch. 16, sec. 3, has been replaced with “Section 6021 of the Deficit Reduction Act of 2005” by the Reviser of Statutes during codification to correct a manifest clerical or typographical error. Consultation with the drafter and examination of the materials in the bill folder for House Bill 259 (which became 2008 Ky. Acts ch. 16) show that the former reference was intended to have been to the amendments made by Section 6021 of the Deficit Reduction Act of 2005 to various sections of 42 U.S.C. secs. 1395 et seq., and not to Section 6021 of that title, an unrelated section that was repealed in 2000. This correction has been made under the authority of KRS § 7.136(1).