Kentucky Statutes 304.17A-824 – Continuing effectiveness of certificate — Termination of certificate at request of group — Merger with another group
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(1) A certificate of filing remains in effect until terminated at the request of the group or suspended or revoked by the commissioner pursuant to KRS § 304.17A-840.
(2) The commissioner shall not grant the request of the self-insured employer- organized association group to terminate its certificate of filing unless the group has filed with the commissioner a statement describing what arrangements, if any, have been made to pay obligations of the group, including both known claims and expenses and incurred but unreported claims and expenses.
(3) Subject to filing with the commissioner, a self-insured employer-organized association group may merge with another self-insured employer-organized association group. As a result of any merger, the resulting self-insured employer- organized association shall assume in full all obligations of the constituent groups.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1265, effective July 15, 2010. — Created
2003 Ky. Acts ch. 78, sec. 13, effective June 24, 2003.
(2) The commissioner shall not grant the request of the self-insured employer- organized association group to terminate its certificate of filing unless the group has filed with the commissioner a statement describing what arrangements, if any, have been made to pay obligations of the group, including both known claims and expenses and incurred but unreported claims and expenses.
Terms Used In Kentucky Statutes 304.17A-824
- 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
- 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
(3) Subject to filing with the commissioner, a self-insured employer-organized association group may merge with another self-insured employer-organized association group. As a result of any merger, the resulting self-insured employer- organized association shall assume in full all obligations of the constituent groups.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1265, effective July 15, 2010. — Created
2003 Ky. Acts ch. 78, sec. 13, effective June 24, 2003.