Kentucky Statutes 304.32-130 – Schedule of dues and fees
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The commissioner shall not issue or renew a certificate of authority to any corporation operating or proposing to operate a nonprofit hospital, medical-surgical, dental, or other health service plan unless:
(1) The subscription or membership certificates which the corporation offers to its subscribers or members, together with a schedule of the dues and fees to be paid by subscribers or members, or the formula for developing dues or fees, has been filed with the commissioner in accordance with KRS § 304.32-160.
(2) The schedule of the dues and fees to be paid by subscribers or members is one which will:
(a) Enable the corporation to meet its current and ongoing obligations to its subscribers or members without impairing the guarantee fund required by KRS § 304.32-140;
(b) Is established and justified in accordance with those actuarially sound factors deemed relevant by the commissioner;
(c) Not be excessive, inadequate, or unfairly discriminatory in relation to the services offered; and
(d) Enable the corporation to achieve and maintain the highest insurance industry financial strength ratings.
Effective:June 29, 2017
History: Amended 2017 Ky. Acts ch. 127, sec. 1, effective June 29, 2017. — Amended 2014 Ky. Acts ch. 119, sec. 10, effective July 15, 2014. — Amended
2010 Ky. Acts ch. 24, sec. 1418, effective July 15, 2010. — Created 1970 Ky. Acts ch. 301, subtit. 32, sec. 13, effective June 18, 1970.
(1) The subscription or membership certificates which the corporation offers to its subscribers or members, together with a schedule of the dues and fees to be paid by subscribers or members, or the formula for developing dues or fees, has been filed with the commissioner in accordance with KRS § 304.32-160.
Terms Used In Kentucky Statutes 304.32-130
- 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
(2) The schedule of the dues and fees to be paid by subscribers or members is one which will:
(a) Enable the corporation to meet its current and ongoing obligations to its subscribers or members without impairing the guarantee fund required by KRS § 304.32-140;
(b) Is established and justified in accordance with those actuarially sound factors deemed relevant by the commissioner;
(c) Not be excessive, inadequate, or unfairly discriminatory in relation to the services offered; and
(d) Enable the corporation to achieve and maintain the highest insurance industry financial strength ratings.
Effective:June 29, 2017
History: Amended 2017 Ky. Acts ch. 127, sec. 1, effective June 29, 2017. — Amended 2014 Ky. Acts ch. 119, sec. 10, effective July 15, 2014. — Amended
2010 Ky. Acts ch. 24, sec. 1418, effective July 15, 2010. — Created 1970 Ky. Acts ch. 301, subtit. 32, sec. 13, effective June 18, 1970.