Kentucky Statutes 304.17A-802 – Definitions for KRS 304.17A-800 to 304.17A-844
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(1) “Administrator” means an individual, partnership, corporation, association, or other legal entity engaged by a self-insured employer-organized association group’s board of trustees to carry out the policies established by the group’s board of trustees and to provide day-to-day management of the group.
(2) “Agent” means any person directly or indirectly associated with such organization who engages in solicitation or enrollment of persons for profit or pecuniary gain in a self-insured employer-organized association group.
(3) “Commissioner” means the commissioner of the Department of Insurance.
(4) “Deceptive” means an act, practice, or statement which has the tendency or capacity to deceive, without regard to whether there is an intent to deceive or whether any person has suffered loss or injury as a result of the act, practice, or statement.
(5) “Employer-organized association” means an entity defined in KRS § 304.17A-804.
(6) “Governmental entity” means the Commonwealth of Kentucky, other states, or the United States, their political subdivisions, municipal corporations, or public agencies.
(7) “Insolvent” or “insolvency” means the inability of a self-insured employer- organized association group to pay its outstanding lawful obligations as they mature in the regular course of business, as may be shown either by an excess of its required reserves and other liabilities over its assets or by its not having sufficient assets to reinsure all of its outstanding liabilities after paying all accrued claims owed by it.
(8) “Person” includes but is not limited to any individual, partnership, association, trust, or corporation.
(9) “Qualified actuary” means a member of the American Academy of Actuaries or a
Fellow of the Society of Actuaries.
(10) “Self-insured employer-organized association group” means a group described in
KRS § 304.17A-804.
(11) “Service company” means a person or entity which provides services not provided by the administrator, including but not limited to claims adjustment, compilation of statistics in preparation of contribution and assessments, loss, and tax reports, preparation of other required self-insurance reports, development of members’ contributions, assessments, and fees, and administration of a claim fund.
(12) “Unfair” means an act, practice, or statement which is unconscionable.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1257, effective July 15, 2010. — Created
2003 Ky. Acts ch. 78, sec. 2, effective June 24, 2003.
(2) “Agent” means any person directly or indirectly associated with such organization who engages in solicitation or enrollment of persons for profit or pecuniary gain in a self-insured employer-organized association group.
Terms Used In Kentucky Statutes 304.17A-802
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means an entity, other than an employer-organized association, that has been organized and is maintained in good faith for purposes other than that of obtaining insurance for its members and that has a constitution and bylaws. See Kentucky Statutes 304.17A-005
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Employer-organized association: means any of the following:
(a) Any entity that was qualified by the commissioner as an eligible association prior to April 10, 1998, and that has actively marketed a health insurance program to its members since September 8, 1996, and which is not insurer- controlled. See Kentucky Statutes 304.17A-005 - Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
(3) “Commissioner” means the commissioner of the Department of Insurance.
(4) “Deceptive” means an act, practice, or statement which has the tendency or capacity to deceive, without regard to whether there is an intent to deceive or whether any person has suffered loss or injury as a result of the act, practice, or statement.
(5) “Employer-organized association” means an entity defined in KRS § 304.17A-804.
(6) “Governmental entity” means the Commonwealth of Kentucky, other states, or the United States, their political subdivisions, municipal corporations, or public agencies.
(7) “Insolvent” or “insolvency” means the inability of a self-insured employer- organized association group to pay its outstanding lawful obligations as they mature in the regular course of business, as may be shown either by an excess of its required reserves and other liabilities over its assets or by its not having sufficient assets to reinsure all of its outstanding liabilities after paying all accrued claims owed by it.
(8) “Person” includes but is not limited to any individual, partnership, association, trust, or corporation.
(9) “Qualified actuary” means a member of the American Academy of Actuaries or a
Fellow of the Society of Actuaries.
(10) “Self-insured employer-organized association group” means a group described in
KRS § 304.17A-804.
(11) “Service company” means a person or entity which provides services not provided by the administrator, including but not limited to claims adjustment, compilation of statistics in preparation of contribution and assessments, loss, and tax reports, preparation of other required self-insurance reports, development of members’ contributions, assessments, and fees, and administration of a claim fund.
(12) “Unfair” means an act, practice, or statement which is unconscionable.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1257, effective July 15, 2010. — Created
2003 Ky. Acts ch. 78, sec. 2, effective June 24, 2003.