(1) The purpose of this subtitle is to regulate the formation or operation of risk retention groups and purchasing groups in the state formed pursuant to the provisions of the Product Liability Risk Retention Act of 1981 (P.L. 97-45) and the Liability Risk Retention Act of 1986 (P.L. 99-563), 15 U.S.C. secs. 3901 et seq., to the extent permitted by such laws, for the protection of the public.
(2) The provisions of KRS § 304.45-010 to KRS § 304.45-150 shall not apply to a self- insurance pool, self-insurance fund, or other self-insurance association, including those considered to be tax exempt under the Internal Revenue Code and those organized under KRS Chapters 65, 66, or 67, KRS § 342.350, or other enabling legislation.
Effective: July 15, 1994
History: Amended 1994 Ky. Acts ch. 358, sec. 28, effective July 15, 1994. — Amended
1990 Ky. Acts ch. 165, sec. 1, effective July 13, 1990. — Created 1986 Ky. Acts ch.
308, sec. 1, effective July 15, 1986.