Terms Used In Kentucky Statutes > Chapter 154 > Subchapter 20 - Financing of Development Generally

• Acceptable collateral: means :
  (a) As to securities lending transactions, and for the purpose of calculating counterparty exposure amount, cash, cash equivalents, letter of credit, direct obligations of, or securities that are fully guaranteed as to principal and interest by, the government of the United States, any agency of the United States, the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation, and as to lending foreign securities, sovereign debt rated 1 by the SVO. See Kentucky Statutes 304.7-012
• Accident and health insurance: means protection that provides payment of benefits for covered sickness or accidental injury, excluding credit insurance, disability insurance, accidental death and dismemberment insurance, and long-term care insurance. See Kentucky Statutes 304.7-012
• Accident and health insurer: means a licensed life or health insurer or health service corporation whose insurance premiums and required statutory reserves for accident and health insurance constitute at least ninety-five percent (95%) of total premium considerations or total statutory required reserves, respectively. See Kentucky Statutes 304.7-012
• Account: means either of the three (3) accounts created under KRS §. See Kentucky Statutes 304.42-050
• Account: is a technical accounting term meaning a formal record in which related transactions and events, (i. See Kentucky Statutes 48.010
• Accounting practices and procedures manual: means the accounting practices and procedures manual, as amended, published by the National Association of Insurance Commissioners. See Kentucky Statutes 304.6-005
• Accuser: means a person who signs and swears to charges, any person who directs that charges nominally be signed and sworn to by another, and any other person who has an interest other than an official interest in the prosecution of the accused. See Kentucky Statutes 35.010
• Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
• Activities: means those actions or services performed by a budget unit which depict in a quantitative manner the fulfillment of lawful purposes. See Kentucky Statutes 48.010
• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Adjuster: means any person required to be licensed as an adjuster under Subtitle 9 of this chapter, who for a fee or compensation investigates or settles claims arising under contracts issued by a workers' compensation self-insured group on behalf of either the group member or the group. See Kentucky Statutes 304.50-015
• Administrator: means the organization designated by the commissioner of the department to administer the fund. See Kentucky Statutes 304.44-010
• Administrator: means the adjutant general of the Commonwealth. See Kentucky Statutes 40.010
• Admitted assets: means assets permitted to be reported as admitted assets in accordance with Subtitle 6 of KRS Chapter 304 on the statutory financial statement of the insurer most recently required to be filed with the commissioner, but excluding assets of separate accounts. See Kentucky Statutes 304.7-012
• Admitted insurer: means an insurer that is licensed or authorized to transact the business of insurance in Kentucky. See Kentucky Statutes 304.10-030
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• advisory organization: is a ny entity, including its affiliates or subsidiaries, which either has two (2) or more member insurers or is controlled either directly or indirectly by two (2) or more insurers and which assists insurers in ratemaking related activities. See Kentucky Statutes 304.13-011
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means a person who directly or indirectly, through one (1) or more intermediaries, controls, is controlled by, or is under common control with an insolvent insurer on December 31 of the year immediately preceding the date that the insurer becomes an insolvent insurer. See Kentucky Statutes 304.36-050
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Afternoon: means the period of a day between noon and midnight. See Kentucky Statutes 355.4-104
• Agency: means any state administrative body, program cabinet, office, department, or division. See Kentucky Statutes 41.010
• agent: includes managing general agent unless the context requires otherwise. See Kentucky Statutes 304.9-085
• Agent: means an individual or business entity required to be licensed by the Department of Insurance under Subtitle 9 of this chapter, to sell or solicit applications for insurance or to negotiate insurance contracts. See Kentucky Statutes 304.50-015
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Animal: includes every warm-blooded living creature except a human being. See Kentucky Statutes 446.010
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appointment: means a notification filed with the insurance department that an insurer has established an agency relationship with a producer. See Kentucky Statutes 304.9-020
• Appointment renewal: means continuation of an insurer's existing appointment based on payment of the required fee without submission of an appointment form. See Kentucky Statutes 304.9-020
• Appraisal: A determination of property value.
• Apprentice adjuster: means an individual who meets the qualification requirements to hold a license as an independent, staff, or public adjuster, except for the experience, education, and training requirements. See Kentucky Statutes 304.9-020
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Appropriation: means an authorization by the General Assembly to expend a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in this chapter. See Kentucky Statutes 48.010
• Appropriation: means an authorization by the General Assembly to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in KRS Chapter 48. See Kentucky Statutes 446.010
• Armed Forces: means the United States Army, Navy, Marine Corps, Air Force, and Coast Guard, including the reserve components thereof on active duty. See Kentucky Statutes 40.010
• Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
• Arrest: Taking physical custody of a person by lawful authority.
• Asbestos: means the asbestiform varieties of: chrysotile (serpentine). See Kentucky Statutes 56.440
• Asbestos-containing material: means any material which contains more than one percent (1%) asbestos by weight. See Kentucky Statutes 56.440
• Assessment: means a levy made on members of the group to fund deficiencies. See Kentucky Statutes 304.50-015
• Assessment process: means the process of assessing and allocating guaranteed acceptance program losses or Kentucky Access funding as provided for in KRS
  304. See Kentucky Statutes 304.17B-001
• Asset-backed security: means a security or other instrument, excluding a mutual fund, evidencing an interest in, or the right to receive payments from, or payable from distributions on, an asset, a pool of assets, or specifically divisible cash flows that are legally transferred to a trust or another special purpose bankruptcy-remote business entity, on the following conditions:
  (a) The trust or other business entity is established solely for the purpose of
  acquiring specific types of assets or rights to cash flows, issuing securities and other instruments representing an interest in or right to receive cash flows from those assets or rights, and engaging in activities required to service the assets or rights and any credit enhancement or support features held by the trust, or other business entity. See Kentucky Statutes 304.7-012
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Assistant: means assistant treasurer. See Kentucky Statutes 41.010
• Association: means the Kentucky Insurance Guaranty Association created under
  KRS §. See Kentucky Statutes 304.36-050
• Association: means the Joint Underwriting Association established pursuant to the provisions of this subtitle. See Kentucky Statutes 304.41-020
• Association: means the Kentucky Life and Health Insurance Guaranty Association created under KRS §. See Kentucky Statutes 304.42-050
• 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
• At the time of enrollment: means the same as defined in KRS §. See Kentucky Statutes 304.17C-010
• At the time of enrollment: means :
  (a) At the time of application for an individual, an association that actively markets to individual members, and an employer-organized association that actively markets to individual members. See Kentucky Statutes 304.17A-005
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney: as used in this subtitle , refers to the attorney-in-fact of a reciprocal insurer. See Kentucky Statutes 304.27-050
• Attorney: means attorney-at-law. See Kentucky Statutes 446.010
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Auditor: means the Auditor of Public Accounts. See Kentucky Statutes 43.010
• Authority: means the Kentucky Health Care Improvement Authority. See Kentucky Statutes 304.17B-001
• Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
• Authority: means a local parking authority as created by KRS §. See Kentucky Statutes 67A.912
• authorized: when used in the context of assessments means a resolution by the board of directors has been passed whereby an assessment will be called immediately or in the future from member insurers for a specific amount. See Kentucky Statutes 304.42-050
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Bailee: means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See Kentucky Statutes 355.7-102
• Balanced budget: A budget in which receipts equal outlays.
• Bank: includes any bank or savings and loan association chartered by the State of Kentucky or the United States government designated to take custody of state funds on deposit, for periods greater than overnight, with the intent to honor presentments against those deposits. See Kentucky Statutes 41.010
• Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See Kentucky Statutes 355.4-104
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Base premium rate: means , for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the insurer to the individual or small group, or employer as defined in KRS §. See Kentucky Statutes 304.17A-005
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Basic health benefit plan: means any plan offered to an individual, a small group, or employer-organized association that limits coverage to physician, pharmacy, home health, preventive, emergency, and inpatient and outpatient hospital services in accordance with the requirements of this subtitle. See Kentucky Statutes 304.17A-005
• Basic reparation insured: means :
  (a) A person identified by name as an insured in a contract of basic reparation insurance complying with this subtitle. See Kentucky Statutes 304.39-020
• Bench trial: Trial without a jury in which a judge decides the facts.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beneficiary: means , in this order, widow, child or children (sharing equally), mother, father, and no other. See Kentucky Statutes 40.010
• Benefit contract: shall mean the agreement for provision of benefits authorized by
  KRS §. See Kentucky Statutes 304.29-041
• Benefit member: shall mean an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract. See Kentucky Statutes 304.29-041
• Benefit plan: means a specific employee, union, or association of natural persons benefit plan. See Kentucky Statutes 304.42-050
• Bequest: Property gifted by will.
• Biennial highway construction plan: means the specifically identified individual transportation projects or portions thereof identified for funding during the upcoming biennium, which correspond to the first two (2) years of the six (6) year road plan. See Kentucky Statutes 48.010
• Biennium: means the two (2) year period commencing on July 1 in each even- numbered year and ending on June 30 in the ensuing even-numbered year. See Kentucky Statutes 446.010
• Blanket travel insurance: means a policy of travel insurance issued to any eligible group providing coverage for specific classes of persons defined in the policy, with coverage provided to all members of the eligible group without a separate charge to individual members of the eligible group. See Kentucky Statutes 304.52-010
• board: means the governing body of a risk retention group elected by its owners to establish policy, elect or appoint officers and committees, and make other governing decisions. See Kentucky Statutes 304.45-020
• Bona fide trade association: means an association of employers created for a noninsurance trade purpose and which has been operating in the Commonwealth for at least two (2) years prior to its sponsorship of a self-insured group. See Kentucky Statutes 304.50-015
• Bonds: means bonds, notes, commercial paper, and other instruments in writing, authorized by or issued pursuant to or in accordance with this chapter, to evidence an obligation to repay or guarantee the repayment of money borrowed, or to pay interest by, or to pay at any future time other money obligations. See Kentucky Statutes 66.011
• Bonus claim: means a claim or potential claim for a veterans' bonus. See Kentucky Statutes 40.010
• branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
• Branch budget recommendation: means the recommendations made to the General
  Assembly by:
  (a) The Governor for the executive branch, including a separate recommendation for the Transportation Cabinet. See Kentucky Statutes 48.010
• Broker: means a surplus lines broker duly licensed as such under this subtitle. See Kentucky Statutes 304.10-030
• Budget: means the complete financial plan for each fiscal year contained in a branch budget bill provided for by this chapter. See Kentucky Statutes 48.010
• Budget unit request: means a detailed statement of the financial requirements of a budget unit by principal budget class, and an estimate of its receipts and expenditures for the next two (2) fiscal years, with the accompanying explanations provided for by this chapter. See Kentucky Statutes 48.010
• Building: includes any structure or improvement upon real estate of a permanent nature and additionally includes any sites, structures, equipment, machinery, or devices for the purpose of establishing, developing, or furthering television or related services in aid of education or in aid of any other proper public functions, whether or not the same would otherwise be legally defined as buildings. See Kentucky Statutes 56.440
• Building project: includes the acquisition of any real estate and the acquisition, construction, reconstruction, and structural maintenance of buildings, the installation of utility services, including roads and sewers, and the purchase and installation of equipment, facilities, and furnishings of a permanent nature for buildings. See Kentucky Statutes 56.440
• Business: includes every trade, occupation, and profession. See Kentucky Statutes 362.1-101
• Business entity: includes a sole proprietorship, corporation, limited liability company, association, partnership, joint stock company, joint venture, mutual fund, trust, joint tenancy, or other similar form of business organization, whether organized for profit or not-for-profit. See Kentucky Statutes 304.7-012
• Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, employer group, professional employer organization, or other legal entity. See Kentucky Statutes 304.9-020
• Business trust: includes , except when utilized in KRS Chapter 386, a "statutory trust" as organized under KRS Chapter 386A. See Kentucky Statutes 446.010
• Buyer: means a person who buys or contracts to buy goods. See Kentucky Statutes 355.2-103
• Cabinet: means the Finance and Administration Cabinet. See Kentucky Statutes 56.440
• Cabinet: means the Cabinet for Economic Development as established under KRS
  12. See Kentucky Statutes 154.1-010
• called: when used in the context of assessments means that a notice has been issued by the association to member insurers requiring that an authorized assessment be paid within the time frame set forth within the notice. See Kentucky Statutes 304.42-050
• Cancellation fee waiver: means a contractual agreement between a supplier of travel services and its customer to waive some or all of the non-refundable cancellation fee provisions of the supplier's underlying travel contract with or without regard to the reason for the cancellation or form of reimbursement. See Kentucky Statutes 304.52-010
• Cap: means an agreement obligating the seller to make payments to the buyer, with each payment based on the amount by which a reference price, level, or the performance or value of one (1) or more underlying interests exceeds a predetermined number, sometimes called the strike rate or strike price. See Kentucky Statutes 304.7-012
• Capitalized interest: means all or a portion of the interest payable on bonds from their date to a date stated or provided for in the proceedings, which interest is to be paid from the proceeds of the bonds. See Kentucky Statutes 66.011
• Carrier: means a person that issues a bill of lading. See Kentucky Statutes 355.7-102
• Case management: means a process for identifying an enrollee with specific health care needs and interacting with the enrollee and their respective health care providers in order to facilitate the development and implementation of a plan that efficiently uses health care resources to achieve optimum health outcome. See Kentucky Statutes 304.17B-001
• Cash equivalents: means short-term, highly rated, and highly liquid investments or securities readily convertible to known amounts of cash without penalty and so near maturity that they present insignificant risk of change in value. See Kentucky Statutes 304.7-012
• Casualty insurance: has the meaning set forth in KRS §. See Kentucky Statutes 304.35-010
• Catastrophe: means an event that results in a declaration of emergency by the
  Governor pursuant to KRS §. See Kentucky Statutes 304.9-020
• Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
• Certificate: shall mean the document issued as written evidence of the benefit contract. See Kentucky Statutes 304.29-041
• Certificate holder: means an individual person who elects and purchases group travel insurance. See Kentucky Statutes 304.52-010
• Certificate of filing: means the certificate issued to a workers' compensation self- insured group to indicate that it has complied with the provisions of this subtitle which are prerequisites to its operation. See Kentucky Statutes 304.50-015
• Certificate of limited partnership: means the certificate required by KRS §. See Kentucky Statutes 362.2-102
• Certified mail: means any method of governmental, commercial, or electronic delivery that allows a document or package to have proof of:
  (a) Sending the document or package. See Kentucky Statutes 446.010
• Chambers: A judge's office.
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Child: means a person:
  (a) Who is under the age of eighteen (18). See Kentucky Statutes 40.010
• Church plan: means a church plan as defined in 29 U. See Kentucky Statutes 304.17A-005
• City: includes town. See Kentucky Statutes 446.010
• Claimant: means any insured making a first-party claim or any person instituting a liability claim, except that no person who is an affiliate of the insolvent insurer may be a claimant. See Kentucky Statutes 304.36-050
• Claimant: means one who seeks to obtain payment of a bonus claim. See Kentucky Statutes 40.010
• Class one bond mutual fund: means a mutual fund that at all times qualifies for investment using the bond class one reserve factor under the Purposes and Procedures of the Securities Valuation Office, or any successor publication. See Kentucky Statutes 304.7-012
• Class one money market mutual fund: means a money market mutual fund that at all times qualifies for investment using the bond class one reserve factor under the Purposes and Procedures of the Securities Valuation Office, or any successor publication. See Kentucky Statutes 304.7-012
• classification: means the process of grouping risks with similar risk characteristics so that differences in cost may be recognized. See Kentucky Statutes 304.13-011
• Classified information: means :
  (a) Any information or material that has been determined by an official of the United States or any state pursuant to law, an executive order, or regulation to require protection against unauthorized disclosure for reasons of national or state security. See Kentucky Statutes 35.010
• Clearing house: means an association of banks or other payors regularly clearing items. See Kentucky Statutes 355.4-104
• COBRA: means any of the following:
  (a) 26 U. See Kentucky Statutes 304.17A-005
• Code: means this chapter. See Kentucky Statutes 35.010
• Code: means KRS Chapter 304 and all administrative regulations promulgated as authorized. See Kentucky Statutes 304.7-012
• Commanding officer: includes only commissioned officers of the state military forces and shall include officers in charge only when administering nonjudicial punishment under KRS §. See Kentucky Statutes 35.010
• Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See Kentucky Statutes 355.2A-103
• Commission: means the Kentucky Emergency Response Commission and those persons appointed by the Governor to implement provisions of Title III, Pub. See Kentucky Statutes 39E.020
• Commission: means the State Property and Buildings Commission. See Kentucky Statutes 56.440
• Commissioner: means :
  (a) The commissioner of insurance of this state. See Kentucky Statutes 304.37-010
• Commissioner: means the commissioner of the Department of Insurance. See Kentucky Statutes 304.38-030
• Commissioner: means the commissioner of the Department of Insurance. See Kentucky Statutes 304.41-020
• Commissioner: means the commissioner of the Kentucky Department of Insurance or the insurance supervisor of another state. See Kentucky Statutes 304.45-020
• Commissioner: means a person appointed to serve on the governing body of a local parking authority. See Kentucky Statutes 67A.912
• Committee amendment: An amendment recommended by a committee in reporting a bill or other measure.
• Committee substitute: Short for committee amendment in the nature of a substitute.
• Common interests: means employers that are engaged in similar activities, share common standard industrial classification codes and common risk factors. See Kentucky Statutes 304.50-015
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
• Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
• competitive market: is a market that has not been found to be noncompetitive
  pursuant to KRS §. See Kentucky Statutes 304.13-011
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Completed operations liability: means liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by:
  (a) Any person who performs that work. See Kentucky Statutes 304.45-020
• Consensus forecasting group: means the group established by KRS §. See Kentucky Statutes 48.010
• Consignee: means a person named in a bill of lading to which or to whose order the bill promises delivery. See Kentucky Statutes 355.7-102
• Consignor: means a person named in a bill of lading as the person from which the goods have been received for shipment. See Kentucky Statutes 355.7-102
• Consolidated local government: means a local government established pursuant to
  KRS Chapter 67C. See Kentucky Statutes 67B.020
• Consultant: means an individual, required to be licensed under Subtitle 9 of this chapter, who as an independent contractor in relation to his or her client, for fee or compensation other than from a workers' compensation self-insured group, in any manner advises or purports to advise any person actually or prospectively a member of such a group concerning coverage, advisability, rights, or interests under the contract or relative to the retention, exchange, surrender, or exercise of rights thereunder. See Kentucky Statutes 304.50-015
• Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose. See Kentucky Statutes 355.2A-103
• Contingent beneficiary: Receiver of property or benefits if the first named beneficiary fails to receive any or all of the property or benefits in question before his (her) death.
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Kentucky Statutes 355.2-106
• Contribution: means any benefit provided by a person to a limited partnership in
  order to become a partner or in the person's capacity as a partner. See Kentucky Statutes 362.2-102
• Control: means the possession, direct or indirect, of power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a loan contract or a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See Kentucky Statutes 304.36-050
• Control: means the possession, directly or indirectly, of the power to direct, or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See Kentucky Statutes 304.7-012
• Convening authority: includes , in addition to the person who convened the court, a commissioned officer commanding for the time being or a successor in command to the convening authority. See Kentucky Statutes 35.010
• Conviction: A judgement of guilt against a criminal defendant.
• 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
• Cost of a project: means the cost of the acquisition, construction, reconstruction, conversion, or leasing of any industrial, commercial, health care, agricultural, or forestry enterprise, or any part thereof, to carry out the purposes and objectives of this chapter, including but not limited to acquisition of land or interest in land, buildings, structures, or other planned or existing planned improvements to land, including leasehold improvements, machinery, equipment, or furnishings. See Kentucky Statutes 154.1-010
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Counterparty exposure amount: means :
  (a) The net amount of credit risk attributable to a derivative instrument entered into with a business entity other than through a qualified exchange, qualified foreign exchange, or cleared through a qualified clearinghouse ("over-the- counter derivative instrument"). See Kentucky Statutes 304.7-012
• County: means any county, consolidated local government, urban-county government, unified local government, or charter county. See Kentucky Statutes 65A.010
• Court: means a Circuit or District Court of this Commonwealth and includes any judge of these courts. See Kentucky Statutes 29A.010
• Coverage form: means coverage contract forms, endorsements, applications, indemnity agreements, clauses, riders, and all other documents regarding coverage. See Kentucky Statutes 304.50-015
• Covered: means that an insurer owns or can immediately acquire, through the exercise of options, warrants, or conversion rights already owned, the underlying interest in order to fulfill or secure its obligations under a call option, cap, or floor it has written, or has set aside under a custodial or escrow agreement, cash, or cash equivalents with a market value equal to the amount required to fulfill its obligations under a put option it has written, in an income generation transaction. See Kentucky Statutes 304.7-012
• Credit enhancement facilities: means letters of credit. See Kentucky Statutes 66.011
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Credit tenant loan: means a mortgage loan that is made primarily in reliance on the credit standing of a major tenant, structured with an assignment of the rental payments to the lender with real estate pledged as collateral in the form of a first lien. See Kentucky Statutes 304.7-012
• Crop insurance: means insurance providing protection against damage to crops from unfavorable weather conditions, fire or lightning, flood, hail, insect infestation, disease, or other yield-reducing conditions or perils provided by the private insurance market or that is subsidized by the Federal Crop Insurance Corporation, including multi-peril crop insurance. See Kentucky Statutes 304.9-020
• Customer: means a person having an account with a bank or for whom a bank has agreed to collect items including a bank that maintains an account at another bank. See Kentucky Statutes 355.4-104
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Day: means :
  (a) For the purpose of pay, one (1) day equals one (1) unit training assembly. See Kentucky Statutes 35.010
• Debt charges: means the principal, including any mandatory sinking fund deposits, interest, and any redemption premium, payable on bonds as the payments come due and are payable and any charges related to credit enhancement facilities. See Kentucky Statutes 66.011
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Defense attorney: Represent defendants in criminal matters.
• Deficiency: means that the self-insured group's assets are insufficient to enable the group to discharge its legal liabilities and other obligations and maintain the reserves required under this subtitle, or that the group has a negative members' fund balance. See Kentucky Statutes 304.50-015
• Deficit: means the amount of any deficiency in the self-insured group or group self-insurance fund. See Kentucky Statutes 304.50-015
• Department: means the Department of Insurance. See Kentucky Statutes 304.44-010
• Department: means a metropolitan correctional services department created or maintained by a consolidated local government or the fiscal court of a county containing a city of the first class, where the constitutional offices of sheriff and jailer have been consolidated, pursuant to this chapter. See Kentucky Statutes 67B.020
• Dependent: A person dependent for support upon another.
• Dependent: means any individual who is or may become eligible for coverage under the terms of an individual or group health benefit plan because of a relationship to a participant. See Kentucky Statutes 304.17A-005
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Derivative instrument: means an agreement, option, instrument, a series, or combination thereof:
  1. See Kentucky Statutes 304.7-012
• Derivative transaction: means a transaction involving the use of one (1) or more derivative instruments. See Kentucky Statutes 304.7-012
• Designated office: means :
  (a) With respect to a limited partnership, the office that a limited partnership is required to designate and maintain under KRS §. See Kentucky Statutes 362.2-102
• Developed losses: means losses (including loss adjustment expenses) adjusted, using standard actuarial techniques, to their ultimate anticipated value. See Kentucky Statutes 304.13-011
• Devise: To gift property by will.
• directly: when used in connection with an obligation, means that the designated obligor is primarily liable on the instrument representing the obligation. See Kentucky Statutes 304.7-012
• Director: means a natural person designated in the articles of a risk retention group, or designated, elected, or appointed by any other manner, name, or title to act as a director. See Kentucky Statutes 304.45-020
• Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
• Disbursement: means cash actually paid out for any purpose. See Kentucky Statutes 48.010
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Discretionary spending: Spending (budget authority and outlays)controlled in annual appropriations acts.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Distribution: means a transfer of money or other property from a partnership to a partner in the partner's capacity as a partner or to the transferee of all or a part of a partner's transferable interest. See Kentucky Statutes 362.1-101
• District: means an area designated by the ordinance creating, under the supervision of the local parking authority, a local parking district that is deemed to be specially benefited. See Kentucky Statutes 67A.912
• Docket: A log containing brief entries of court proceedings.
• Document: means any physical embodiment of information or ideas, regardless of form or characteristic, including electronic versions thereof. See Kentucky Statutes 45.0005
• Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (KRS §. See Kentucky Statutes 355.4-104
• Dollar roll transaction: means two (2) simultaneous transactions with different settlement dates no more than ninety-six (96) days apart, so that in the transaction with the earlier settlement date, an insurer sells to a business entity, and in the other transaction the insurer is obligated to purchase from the same business entity, substantially similar securities of the following types:
  (a) Asset-backed securities issued, assumed, or guaranteed by the Government National Mortgage Association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or their respective successors. See Kentucky Statutes 304.7-012
• Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
• Domestic jurisdiction: means the United States, Canada, any state, any province of
  Canada, or any political subdivision of any of the foregoing. See Kentucky Statutes 304.7-012
• Donor: The person who makes a gift.
• Draft: means a draft as defined in KRS §. See Kentucky Statutes 355.4-104
• Drawee: means a person ordered in a draft to make payment. See Kentucky Statutes 355.4-104
• Earned premium: means the portion of premium paid by an insured that has been allocated to the insurer's loss experience, expenses, and profit year to date. See Kentucky Statutes 304.17B-001
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Eligible group: means two (2) or more persons who are engaged in a common enterprise, or have an economic, educational, or social affinity or relationship, including but not limited to the following:
  (a) 1. See Kentucky Statutes 304.52-010
• Eligible individual: means an individual:
  (a) For whom, as of the date on which the individual seeks coverage, the aggregate of the periods of creditable coverage is eighteen (18) or more months and whose most recent prior creditable coverage was under a group health plan, governmental plan, or church plan. See Kentucky Statutes 304.17A-005
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Employee: means those persons covered under the provisions of KRS §. See Kentucky Statutes 304.50-015
• Employee benefit plan: means an employee welfare benefit plan or an employee pension benefit plan or a plan which is both an employee welfare benefit plan and an employee pension benefit plan as defined by ERISA. See Kentucky Statutes 304.17A-005
• Employer: means an employer mandatorily subject to and required to comply with the provisions of KRS Chapter 342, and those voluntarily covering excluded employees pursuant to KRS §. See Kentucky Statutes 304.50-015
• 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
• Enacted estimates: means the revenue estimates used by the General Assembly as the basis for appropriations made in the enacted branch budget bills. See Kentucky Statutes 48.010
• Enlisted member: means a person in an enlisted grade. See Kentucky Statutes 35.010
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• Enrollee: means a person who is enrolled in a health benefit plan offered under
  Kentucky Access. See Kentucky Statutes 304.17B-001
• Enrollee: means an individual who is enrolled in a limited health service benefit plan. See Kentucky Statutes 304.17C-010
• Enrollee: means a person who has been enrolled in a health maintenance organization. See Kentucky Statutes 304.38-030
• Enrollee: means an individual who is enrolled in a limited health services benefit plan. See Kentucky Statutes 304.38A-010
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Entity: means a corporation, foreign corporation, not-for-profit corporation, profit or not-for-profit unincorporated association, business or statutory trust, estate, partnership, limited partnership, trust, two (2) or more persons having a joint or common economic interest, and a state, national, or foreign government. See Kentucky Statutes 362.1-101
• Entity: means a corporation, foreign corporation, not-for-profit corporation, profit and not-for-profit unincorporated associations, business or statutory trust, estate, partnership, limited partnership, trust, two (2) or more persons having a joint or common economic interest, and a state, national, or foreign government. See Kentucky Statutes 362.2-102
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Equity interest: means any of the following that are not rated credit instruments: (a) Common stock. See Kentucky Statutes 304.7-012
• equity security: when used in this subtitle means: (1) Any stock or similar security. See Kentucky Statutes 304.26-020
• Equivalent securities: means :
  (a) In a securities lending transaction, securities that are identical to the loaned securities in all features including the amount of the loaned securities, except as to certificate number if held in physical form, but if any different security shall be exchanged for a loaned security by recapitalization, merger, consolidation, or other corporate action, the different security shall be deemed to be the loaned security. See Kentucky Statutes 304.7-012
• Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. ^{Source: OCC}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Establishing entity: means the city or county, or any combination of cities and counties, that established a special purpose governmental entity and that has not subsequently withdrawn its affiliation with the special purpose governmental entity by ordinance or other official action. See Kentucky Statutes 65A.010
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Excepted benefits: means benefits under one (1) or more, or any combination of the following:
  (a) Coverage only for accident, including accidental death and dismemberment, or disability income insurance, or any combination thereof. See Kentucky Statutes 304.17A-005
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Executor: A male person named in a will to carry out the decedent
• Experience rating: means a rating procedure utilizing past insurance experience of the individual policyholder to forecast future losses by measuring the policyholder's loss experience against the loss experience of policyholders in the same classification to produce a prospective premium credit, debit, or unity modification. See Kentucky Statutes 304.13-011
• export: means to place in an unauthorized insurer under this Surplus Lines Law insurance covering a subject of insurance resident, located or to be performed in Kentucky. See Kentucky Statutes 304.10-030
• Extracontractual claims: include but are not limited to claims relating to bad faith in the payment of claims, punitive or exemplary damages, and attorneys' fees and costs. See Kentucky Statutes 304.42-050
• Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
• Facility: means all buildings, equipment structures, and other stationary items which are located on a single site or on contiguous or adjacent sites and which are owned or operated by the same person, or by any person which controls, is controlled by, or under common control with such person, and which manufactures, stores, or uses substances covered under this chapter. See Kentucky Statutes 39E.020
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Father: means a father, a father through adoption, or a man who for a period of not less than one (1) year stood in the relationship of a father to a qualified veteran before his or her entry into active service in the Armed Forces, or if two (2) persons stood in such relationship for one (1) year or more, the person who last stood in such relationship before the veteran's last entry into active service in the Armed Forces. See Kentucky Statutes 40.010
• Fault: means wrongful act, omission, breach, or default. See Kentucky Statutes 355.2A-103
• Federal: refers to the United States. See Kentucky Statutes 446.010
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Federally regulated municipal utility: means a municipal utility governed by the provisions of KRS §. See Kentucky Statutes 65A.010
• Fee: means any user charge, levy, assessment, fee, schedule of rates, or tax, other than an ad valorem tax, imposed by a special purpose governmental entity. See Kentucky Statutes 65A.010
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• Finance lease: means a lease with respect to which:
  1. See Kentucky Statutes 355.2A-103
• Financing costs: means all costs and expenses relating to the issuance and carrying costs of bonds including charges related to credit enhancement facilities which are not debt charges. See Kentucky Statutes 66.011
• Fiscal agent: means a person or legal entity, other than a service organization or employees or agents of a service organization, designated by the trustees to receive, invest, and disburse the self-insured group's funds. See Kentucky Statutes 304.50-015
• Fiscal court: means the county judge/executive and justices of the peace of a county, or the county judge/executive and three (3) county commissioners elected pursuant to KRS §. See Kentucky Statutes 67B.020
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Floating indebtedness: means the amount by which the total of all expenditures by an issuer in any fiscal year exceeds the total of all funds and receipts of the issuer for that fiscal year which are available to the issuer for the purpose of funding those expenditures, but only to the extent that the governing body of the issuer made good-faith estimates of expenditures and funds and receipts available to fund those expenditures and the short-fall in available funds and receipts was due to unforeseeable circumstances or events. See Kentucky Statutes 66.011
• Floor: means an agreement obligating the seller to make payments to the buyer in which each payment is based on the amount by which a predetermined number, sometimes called the floor rate or price, exceeds a reference price, level,
  performance, or value of one (1) or more underlying interests. See Kentucky Statutes 304.7-012
• Forbearance: A means of handling a delinquent loan. A
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
• Foreign currency: means a currency other than that of a domestic jurisdiction. See Kentucky Statutes 304.7-012
• Foreign investment: means an investment in a foreign jurisdiction, or an investment in a person, real estate, or asset domiciled in a foreign jurisdiction, that is substantially of the same type as those eligible for investment under this subtitle, other than KRS §. See Kentucky Statutes 304.7-012
• Foreign jurisdiction: means a jurisdiction other than a domestic jurisdiction. See Kentucky Statutes 304.7-012
• Foreign limited liability limited partnership: means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to KRS §. See Kentucky Statutes 362.2-102
• Foreign limited liability partnership: means a partnership that:
  (a) Is formed under laws other than the laws of this Commonwealth. See Kentucky Statutes 362.1-101
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Form provider: means a person who prepares, files, and distributes policy contract forms and endorsements and consults with members, subscribers, customers, or others relative to their use and application, but is not an advisory organization as defined in this subtitle. See Kentucky Statutes 304.13-011
• Forms: means coverage contract forms, endorsements, applications, indemnity agreements, clauses, riders, articles of association, articles of incorporation, trust agreements or bylaws of the proposed group, and all other documents regarding coverage and membership. See Kentucky Statutes 304.50-015
• Fraud: Intentional deception resulting in injury to another.
• Fulfillment materials: means documentation sent to the purchaser of a travel protection plan confirming the purchase and providing the travel protection plan's travel insurance coverage and travel assistance services details. See Kentucky Statutes 304.52-010
• fund: means the fund established by this subtitle and administered as determined by the department. See Kentucky Statutes 304.44-010
• Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources or both together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities in accordance with legal restrictions or other limitations, to include:
  (a) "General Fund. See Kentucky Statutes 48.010
• Future: means an agreement, traded on a qualified exchange or qualified foreign exchange, to make, take delivery of, or effect a cash settlement based on the actual or expected price, level, performance, or value of one (1) or more underlying interest. See Kentucky Statutes 304.7-012
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• General partner: means :
  (a) With respect to a limited partnership, a person that:
  1. See Kentucky Statutes 362.2-102
• General rescue squad: means a rescue squad which performs one (1) or more of the following functions as a stated mission of the organization:
  (a) Light duty rescue. See Kentucky Statutes 39F.010
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (KRS §. See Kentucky Statutes 355.2A-103
• Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Kentucky Statutes 355.7-102
• Governing body: means the legislative authority of the issuer. See Kentucky Statutes 66.011
• Government money market mutual fund: means a money market mutual fund that at all times:
  (a) Invests only in obligations issued, guaranteed, or insured by the federal government of the United States or collateralized repurchase agreements composed of these obligations. See Kentucky Statutes 304.7-012
• Government sponsored enterprise: means a: (a) Governmental agency. See Kentucky Statutes 304.7-012
• Governmental plan: means a governmental plan as defined in 29 U. See Kentucky Statutes 304.17A-005
• Governmental entities: means cities, counties, urban-county governments, charter county governments, consolidated local governments, school districts, and other political subdivisions of the Commonwealth, and their boards, agencies, authorities, and commissions. See Kentucky Statutes 304.50-015
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Grantor: The person who establishes a trust and places property into it.
• Group health plan: means a plan, including a self-insured plan, of or contributed to by an employer, including a self-employed person, or employee organization, to provide health care directly or otherwise to the employees, former employees, the employer, or others associated or formerly associated with the employer in a business relationship, or their families. See Kentucky Statutes 304.17A-005
• Group members: means employers who have joined a self-insured group. See Kentucky Statutes 304.50-015
• Group self-insurance fund: means the contractual arrangement whereby twenty (20) or more employers with common interests or two (2) or more governmental entities associate to jointly self-insure their workers' compensation liability. See Kentucky Statutes 304.50-015
• Group travel insurance: means travel insurance issued to any eligible group. See Kentucky Statutes 304.52-010
• Groupwide supervisor: means the regulatory official authorized to engage in conducting and coordinating groupwide supervision activities in accordance with KRS §. See Kentucky Statutes 304.37-010
• Guaranteed acceptance plan supporting insurer: means either an insurer, on or before December 31, 2000, that is not a guaranteed acceptance plan participating insurer or is a stop loss carrier, on or before December 31, 2000, provided that a guaranteed acceptance plan supporting insurer shall not include an employer- sponsored self-insured health benefit plan exempted by ERISA. See Kentucky Statutes 304.17A-005
• Guaranteed acceptance program plan: means a health benefit plan in the individual market issued by an insurer that provides health benefits to a guaranteed acceptance program qualified individual and is eligible for assessment and refunds under the guaranteed acceptance program under KRS §. See Kentucky Statutes 304.17A-005
• Guaranteed acceptance program qualified individual: means an individual who, on or before December 31, 2000:
  (a) Is not an eligible individual. See Kentucky Statutes 304.17A-005
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
• Hazardous financial condition: means a condition in which, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able:
  (a) To meet obligations to policyholders with respect to known claims and reasonably anticipated claims. See Kentucky Statutes 304.45-020
• Hazardous substance: means a substance specified by Title III, Pub. See Kentucky Statutes 39E.020
• Headquarters: means the principal office where the principal executives of the entity are located and from which other personnel, branches, affiliates, offices, or entities are controlled. See Kentucky Statutes 56.440
• Health care service: means health care procedures, treatments, or services
  rendered by a provider within the scope of practice for which the provider is licensed. See Kentucky Statutes 304.17A-005
• Health maintenance organization: means any person who undertakes to provide, directly or through arrangements with others, health care services to individuals enrolled with such an organization on a per capita or a predetermined, fixed prepayment basis. See Kentucky Statutes 304.38-030
• Hedging transaction: means a derivative transaction that is entered into and maintained to reduce:
  (a) The risk of a change in the value, yield, price, cash flow, or quantity of assets or liabilities that the insurer has acquired or incurred or anticipates acquiring or incurring. See Kentucky Statutes 304.7-012
• High-cost condition: means acquired immune deficiency syndrome (AIDS), angina pectoris, ascites, chemical dependency, cirrhosis of the liver, coronary insufficiency, coronary occlusion, cystic fibrosis, Friedreich's ataxia, hemophilia, Hodgkin's disease, Huntington's chorea, juvenile diabetes, leukemia, metastatic cancer, motor or sensory aphasia, multiple sclerosis, muscular dystrophy, myasthenia gravis, myotonia, open-heart surgery, Parkinson's disease, polycystic kidney, psychotic disorders, quadriplegia, stroke, syringomyelia, Wilson's disease, chronic renal failure, malignant neoplasm of the trachea, malignant neoplasm of the bronchus, malignant neoplasm of the lung, malignant neoplasm of the colon, short gestation period for a newborn child, and low birth weight of a newborn child. See Kentucky Statutes 304.17B-001
• Highly rated: means an investment rated P-1 by Moody's Investors Service, Inc. See Kentucky Statutes 304.7-012
• Home state: means the District of Columbia and any state or territory of the United States in which a licensee maintains his or her principal place of residence or principal place of business and is licensed by that state. See Kentucky Statutes 304.9-020
• Home state: means :
  (a) 1. See Kentucky Statutes 304.10-030
• Impaired insurer: means a member insurer which, after June 17, 1978, is not an insolvent insurer and is placed under an order of rehabilitation or conservation by a court of competent jurisdiction. See Kentucky Statutes 304.42-050
• Impaired person: means a person who has a known or reported:
  (a) Developmental disability, including but not limited to autism, or traumatic brain injury and whose disappearance poses a credible threat to the health or safety of the person, as determined by the Department of Kentucky State Police or a local law enforcement agency. See Kentucky Statutes 39F.010
• Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
• In forma pauperis: In the manner of a pauper. Permission given to a person to sue without payment of court fees on claim of indigence or poverty.
• Income: means , as to a security, interest, accrual of discount, dividends, or other
  distributions, such as rights, tax or assessment, or assessment credits, warrants, and
  distributions in kind. See Kentucky Statutes 304.7-012
• Incremental taxes: means , for any fiscal year of the Commonwealth, that amount of money which is equal to all tax revenues received by the Commonwealth, as taxing entity, during such fiscal year in respect of an industrial development project and improvements and equipment thereon and the products thereof, and activities carried out by the occupants and users of such industrial development project, minus an amount equal to all tax revenues received by the Commonwealth, as taxing entity, in respect of the site of the industrial development project and the same type of taxable properties and activities during the fiscal year immediately preceding the fiscal year during which construction of the improvements undertaken by an industrial entity as a result of the financing of such industrial development project commenced. See Kentucky Statutes 56.440
• Incurred losses: means for Kentucky Access the excess of claims paid over premiums received. See Kentucky Statutes 304.17B-001
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Independent adjuster: means a person who:
  (a) Is an independent contractor, an employee of an independent contractor, or for tax purposes is treated as an independent contractor under Subtitle C of the Internal Revenue Code, 26 U. See Kentucky Statutes 304.9-020
• Index rate: means , for each class of business as to a rating period, the arithmetic average of the applicable base premium rate and the corresponding highest premium rate. See Kentucky Statutes 304.17A-005
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Individual market: means the market for the health insurance coverage offered to individuals other than in connection with a group health plan. See Kentucky Statutes 304.17A-005
• Industrial development project: means and includes the acquisition of any real estate and the construction, acquisition, and installation thereon and with respect thereto of improvements and facilities necessary and useful for the improvement of such real estate for conveyance to or lease to industrial entities to be used for manufacturing, processing, or assembling purposes, including surveys, site tests and inspections, subsurface site work, excavation, removal of structures, roadways, cemeteries, and other surface obstructions, filling, grading and provision of drainage, storm water detention, installation of utilities such as water, sewer, sewage treatment, gas, electricity, communication, and other similar facilities, off- site construction of utility extensions to the boundaries of such real estate, construction and installation of buildings, including buildings to be used for worker training and education, rail facilities, roads, sidewalks, curbs, and other improvements to such real estate necessary to its manufacturing, processing, or assembling use by industrial entities. See Kentucky Statutes 56.440
• Industrial entity: means any corporation, partnership, person, or other legal entity, whether domestic or foreign, which will itself or through its subsidiaries and affiliates construct and develop a manufacturing, processing, or assembling facility on the site of an industrial development project financed pursuant to this chapter. See Kentucky Statutes 56.440
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• insolvency: means the inability of a self-insured group to pay its outstanding lawful obligations as they mature in the regular course of business, or to hold sufficient assets to prospectively pay all incurred workers' compensation benefits when due. See Kentucky Statutes 304.50-015
• Insolvent insurer: means an insurer:
  (a) That was a member insurer at the time the policy was issued. See Kentucky Statutes 304.36-050
• Insolvent insurer: means a member insurer which after June 17, 1978, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See Kentucky Statutes 304.42-050
• Installment lease contract: means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent. See Kentucky Statutes 355.2A-103
• Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risks which is determined to be insurance under the laws of this state. See Kentucky Statutes 304.45-020
• Insurance future: means a future relating to an index or pool that is based on insurance-related items. See Kentucky Statutes 304.7-012
• Insurance futures option: means an option on an insurance future. See Kentucky Statutes 304.7-012
• Insurance holding company system: means two (2) or more affiliated persons, one
  (1) or more of which is an insurer. See Kentucky Statutes 304.37-010
• Insurance producer: includes agent, managing general agent, surplus lines broker, reinsurance intermediary broker and manager, rental vehicle agent and rental vehicle agent managing employee, and consultant. See Kentucky Statutes 304.9-020
• insured: as used in this subtitle , shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits, and rights provided therein. See Kentucky Statutes 304.17-320
• Insurer: means any insurance company. See Kentucky Statutes 304.17A-005
• Insurer: means any insurance company, health maintenance organization, self- insurer or multiple employer welfare arrangement not exempt from state regulation by ERISA, provider-sponsored integrated health delivery network, self-insured employer-organized association, nonprofit hospital, medical-surgical, dental, health service corporation, or limited health service organization authorized to transact health insurance business in Kentucky who offers a limited health service benefit plan. See Kentucky Statutes 304.17C-010
• Insurer-controlled: means that the commissioner has found, in an administrative hearing called specifically for that purpose, that an insurer has or had a substantial involvement in the organization or day-to-day operation of the entity for the principal purpose of creating a device, arrangement, or scheme by which the insurer segments employer groups according to their actual or anticipated health status or actual or projected health insurance premiums. See Kentucky Statutes 304.17A-005
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• interest equivalent: means those payments or portions of payments, however denominated, that constitute or represent consideration for forbearing the collection of money, or for deferring the receipt or payment of money to a future time. See Kentucky Statutes 66.011
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Investment company: means an investment company as defined in Section 3(a) of the Investment Company Act of 1940 (15 U. See Kentucky Statutes 304.7-012
• Investment company series: means an investment portfolio of an investment company that is organized as a series company and to which assets of the investment company have been specifically allocated. See Kentucky Statutes 304.7-012
• Investment practices: means transactions of the types described in KRS §. See Kentucky Statutes 304.7-012
• Investment strategy: means the techniques and methods used by an insurer to meet its investment objectives, such as active bond portfolio management, passive bond portfolio management, interest rate anticipation, growth investing, and value investing. See Kentucky Statutes 304.7-012
• Investment subsidiary: means a subsidiary of an insurer engaged or organized to
  engage exclusively in the ownership and management of assets authorized as investment for the insurer if each subsidiary agrees to limit its investment in any asset so that its investments will not cause the amount of the total investment of the insurer to exceed any of the investment limitations or avoid any other provisions of this subtitle applicable to the insurer. See Kentucky Statutes 304.7-012
• Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Kentucky Statutes 355.7-102
• Issuer: means a county, city, urban-county, charter county, or other taxing district, and for purposes of making any determinations required under this chapter, may include an authorized representative of the issuer. See Kentucky Statutes 66.011
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Kentucky Statutes 355.4-104
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Joint underwriting: is a voluntary arrangement established to provide insurance coverage for a risk pursuant to which two (2) or more insurers jointly contract with the insured at a price and under policy terms agreed on between the insurers. See Kentucky Statutes 304.13-011
• Judge advocate: means a commissioned officer of the organized state military forces who is a member in good standing of the bar of the highest court of a state, and is:
  (a) Certified or designated as a judge advocate in the Judge Advocate General's Corps of the Army, Air Force, Navy, Marine Corps, or Coast Guard, or a reserve component of one (1) of these. See Kentucky Statutes 35.010
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Juror: A person who is on the jury.
• Kentucky Health Care Improvement Fund: means the fund established for receipt of the Kentucky tobacco master settlement moneys for program initiatives listed in KRS §. See Kentucky Statutes 304.17B-001
• Kentucky National Guard: includes the Army National Guard and Air National
  Guard. See Kentucky Statutes 38.010
• Korean conflict: means the period beginning on June 27, 1950, and ending
  January 31, 1955. See Kentucky Statutes 40.010
• Large group: means :
  (a) An employer with fifty-one (51) or more employees. See Kentucky Statutes 304.17A-005
• Laws: shall mean the society's articles of incorporation, constitution and bylaws, however designated. See Kentucky Statutes 304.29-041
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Kentucky Statutes 355.2A-103
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. See Kentucky Statutes 355.2A-103
• Lease contract: means the total legal obligation that results from the lease agreement as affected by this article and any other applicable rules of law. See Kentucky Statutes 355.2A-103
• Leasehold interest: means the interest of the lessor or the lessee under a lease contract. See Kentucky Statutes 355.2A-103
• Legal professional liability insurance: means insurance as defined in KRS §. See Kentucky Statutes 304.41-020
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Legislation: means an ordinance or resolution passed by a governing body. See Kentucky Statutes 66.011
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Lessee: means a person who acquires the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
• Lessor: means a person who transfers the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
• Letter of credit: means a clean, irrevocable, and unconditional letter of credit issued or confirmed by, and payable and presentable at, a financial institution on the list of financial institutions meeting the standards for issuing letters of credit under the Purposes and Procedures of the Securities Valuation Office or any successor publication. See Kentucky Statutes 304.7-012
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien: means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest. See Kentucky Statutes 355.2A-103
• Limited health service: means dental care services, vision care services, mental health services, substance abuse services, chiropractic services, pharmaceutical services, podiatric care services, and such other services as may be determined by the commissioner to be limited health services. See Kentucky Statutes 304.38A-010
• Limited health service benefit plan: means any policy or certificate that provides services for dental, vision, mental health, substance abuse, chiropractic, pharmaceutical, podiatric, or other such services as may be determined by the commissioner to be offered under a limited health service benefit plan. See Kentucky Statutes 304.17C-010
• Limited health service organization: means a corporation, partnership, limited liability company, or other entity that undertakes to provide or arrange limited health service or services to enrollees. See Kentucky Statutes 304.38A-010
• Limited liability company: means a business organization, excluding partnerships and ordinary business corporations, organized or operating under the laws of the United States or any state thereof that limits the personal liability of investors to the equity investment of the investor in the business entity. See Kentucky Statutes 304.7-012
• Limited liability partnership: means a partnership that has filed a statement of qualification under KRS §. See Kentucky Statutes 362.1-101
• Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the commissioner determines should be designated a form of limited line credit insurance. See Kentucky Statutes 304.9-020
• Limited lines travel insurance producer: means a:
  (a) Licensed managing general agent. See Kentucky Statutes 304.52-010
• Limited partner: means :
  (a) With respect to a limited partnership, a person that:
  1. See Kentucky Statutes 362.2-102
• Lineal descendant: Direct descendant of the same ancestors.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Livestock: means cattle, sheep, swine, goats, horses, alpacas, llamas, buffaloes, or any other animals of the bovine, ovine, porcine, caprine, equine, or camelid species. See Kentucky Statutes 446.010
• local committee: means those persons appointed by the commission to assist in the implementation of Title III, Pub. See Kentucky Statutes 39E.020
• Local legislative body: means the governing body of any urban-county government whether it be designated as a city commission, city council or any other similar designation. See Kentucky Statutes 67A.912
• Lodge: shall mean subordinate member units of the society, known as camps, courts, councils, branches or by any other designation. See Kentucky Statutes 304.29-041
• Loss: means accrued economic loss consisting only of medical expense, work loss, replacement services loss, and, if injury causes death, survivor's economic loss and survivor's replacement services loss. See Kentucky Statutes 304.39-020
• Loss adjustment expenses: means the expenses incurred by the insurer in the course of settling claims. See Kentucky Statutes 304.13-011
• Lot: means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract. See Kentucky Statutes 355.2A-103
• Lower grade investment: means a rated credit instrument rated 4, 5, or 6 by the
  SVO. See Kentucky Statutes 304.7-012
• Managed care: means systems or techniques generally used by third-party payors or their agents to affect access to and control payment for health care services and that integrate the financing and delivery of appropriate health care services to covered persons by arrangements with participating providers who are selected to participate on the basis of explicit standards for furnishing a comprehensive set of health care services and financial incentives for covered persons using the participating providers and procedures provided for in the plan. See Kentucky Statutes 304.17A-005
• managing general agent: is a n individual or business entity appointed by an insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and countersign insurance contracts. See Kentucky Statutes 304.9-085
• Mandatory sinking fund redemption requirements: means amounts required by proceedings to be deposited in a sinking fund for the purpose of paying, by mandatory redemption prior to stated maturity, the principal of bonds that is due and payable in a subsequent year or fiscal year. See Kentucky Statutes 66.011
• Market value: means :
  (a) As to cash and letters of credit, the amounts thereof. See Kentucky Statutes 304.7-012
• Material relationship: includes but is not limited to:
  (a) The receipt in any one (1) twelve (12) month period by a person, a member of the person's immediate family, or any business with which the person is affiliated of compensation or payment of any other item of value from the risk retention group or a consultant or service provider to the risk retention group that exceeds or equals the greater of the following, as measured at the end of any fiscal quarter falling in the twelve (12) month period:
  1. See Kentucky Statutes 304.45-020
• Material service provider contract: means a contract between a risk retention group and a service provider where the amount to be paid for the contract exceeds or equals the greater of the following:
  (a) Five percent (5%) of the risk retention group's annual gross written premium. See Kentucky Statutes 304.45-020
• Medicaid: means coverage in accordance with Title XIX of the Social Security
  Act, 42 U. See Kentucky Statutes 304.17B-001
• Medical expense: means reasonable charges incurred for reasonably needed products, services, and accommodations, including those for medical care, physical rehabilitation, rehabilitative occupational training, licensed ambulance services, and other remedial treatment and care. See Kentucky Statutes 304.39-020
• Medicare: means coverage under both Parts A and B of Title XVIII of the Social
  Security Act, 42 U. See Kentucky Statutes 304.17B-001
• Medium grade investment: means a rated credit instrument rated 3 by the SVO. See Kentucky Statutes 304.7-012
• Meeting: means all gatherings of every kind, including video teleconferences. See Kentucky Statutes 56.440
• Member insurer: means any person who:
  1. See Kentucky Statutes 304.36-050
• Member insurer: means any insurer or health maintenance organization licensed or authorized to transact in this state any kind of insurance or health maintenance organization business for which coverage is provided under KRS §. See Kentucky Statutes 304.42-050
• Merchant lessee: means a lessee that is a merchant with respect to goods of the kind subject to the lease. See Kentucky Statutes 355.2A-103
• Military: refers to any or all of the Armed Forces. See Kentucky Statutes 35.010
• Military court: means a court-martial or a court of inquiry. See Kentucky Statutes 35.010
• Military judge: means an official of a general and special court-martial detailed in accordance with KRS §. See Kentucky Statutes 35.010
• Military offenses: means those offenses prescribed under KRS §. See Kentucky Statutes 35.010
• Mine subsidence: means the collapse of underground coal mines resulting in direct damage to a structure. See Kentucky Statutes 304.44-010
• Money market mutual fund: means a mutual fund that meets the conditions of 17
  Code of Federal Regulations Par. See Kentucky Statutes 304.7-012
• Month: means calendar month. See Kentucky Statutes 446.010
• Moped: means either a motorized bicycle whose frame design may include one (1) or more horizontal crossbars supporting a fuel tank so long as it also has pedals, or a motorized bicycle with a step-through type frame which may or may not have pedals rated no more than two (2) brake horsepower, a cylinder capacity not exceeding fifty (50) cubic centimeters, an automatic transmission not requiring clutching or shifting by the operator after the drive system is engaged, and capable of a maximum speed of not more than thirty (30) miles per hour. See Kentucky Statutes 304.39-020
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: means an obligation secured by a mortgage, deed of trust, trust deed, or other consensual lien on real estate. See Kentucky Statutes 304.7-012
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Mother: means a mother, a mother through adoption, or a woman who for a period of not less than one (1) year stood in the relationship of a mother to a qualified veteran before his or her entry into active service in the Armed Forces, or if two (2) persons stood in such relationship for one (1) year or more, the person who last stood in such relationship before the veteran's last entry into active service in the Armed Forces. See Kentucky Statutes 40.010
• Motor vehicle: means any vehicle which transports persons or property upon the public highways of the Commonwealth, propelled by other than muscular power except road rollers, road graders, farm tractors, vehicles on which power shovels are mounted, such other construction equipment customarily used only on the site of construction and which is not practical for the transportation of persons or property upon the highways, such vehicles as travel exclusively upon rails, and such vehicles as are propelled by electrical power obtained from overhead wires while being operated within any municipality or where said vehicles do not travel more than five (5) miles beyond the said limits of any municipality. See Kentucky Statutes 304.39-020
• Multilateral development bank: means an international development organization
  of which the United States is a member. See Kentucky Statutes 304.7-012
• Municipality: means a county, city, development organization, an institution of higher education, a community or junior college, a subdivision or instrumentality of any of the foregoing, or any entity created by two (2) or more municipalities pursuant to the Interlocal Cooperation Act, KRS §. See Kentucky Statutes 154.1-010
• Mutual fund: means an investment company or, in the case of an investment company that is organized as a series company, an investment company series, that, in either case, is registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940 (15 U. See Kentucky Statutes 304.7-012
• NAIC: means the National Association of Insurance Commissioners. See Kentucky Statutes 304.37-010
• NAIC: means the National Association of Insurance Commissioners. See Kentucky Statutes 304.7-012
• Name: includes an identifying number. See Kentucky Statutes 29A.010
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Negotiate: means the act of conferring directly with, or offering advice directly to, a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers. See Kentucky Statutes 304.9-020
• Net direct written premiums: means direct gross premiums written, or in the case of an insurer organized under KRS Chapter 299, assessments, membership fees, and policy fees levied and collected, in this state, less returns thereon and dividends paid or credited to policyholders on such direct business. See Kentucky Statutes 304.36-050
• Net indebtedness: means the principal amount of outstanding bonds of an issuer as determined in accordance with KRS §. See Kentucky Statutes 66.011
• Net loss: means loss less benefits or advantages, from sources other than basic and added reparation insurance, required to be subtracted from loss in calculating net loss. See Kentucky Statutes 304.39-020
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Nonadmitted insurance: means :
  (a) Any property and casualty insurance permitted to be placed directly or through a surplus lines broker with a nonadmitted insurer eligible to accept the insurance. See Kentucky Statutes 304.10-030
• noncompetitive market: is a market for which there is an order in effect pursuant to KRS §. See Kentucky Statutes 304.13-011
• Nonretail service and technology project: means and includes the acquisition of any real estate and the construction, acquisition, equipping, and installation thereon
  and with respect thereto of improvements and facilities necessary and useful for the improvement of that real estate for conveyance to or lease to nonretail service and technology entities to be used for call centers, centralized administrative or processing centers, telephone or Internet sales order or processing centers, distribution or fulfillment centers, data processing centers, research and development facilities, or other similar activities. See Kentucky Statutes 56.440
• Notes: means bonds that mature no later than five (5) years from the date they are issued. See Kentucky Statutes 66.011
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Obligation: means instruments in writing, which are not bonds within the meaning of this chapter, that evidence an obligation to repay money borrowed, or to pay interest by, or to pay at any future time other money obligations, including, without limitation, installment sale, lease, lease purchase, or similar agreements, which obligations bear interest or an interest equivalent. See Kentucky Statutes 66.011
• Office: means the Office of Health Data and Analytics in the Cabinet for Health and Family Services. See Kentucky Statutes 304.17B-001
• Officer: means a commissioned or warrant officer. See Kentucky Statutes 35.010
• Officer in charge: means a member of the naval militia, the Navy, the Marine
  Corps, or the Coast Guard designated as such by appropriate authority. See Kentucky Statutes 35.010
• Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}
• Option: means an agreement giving the buyer the right to buy or receive (a "call option"), sell or deliver (a "put option"), enter into, extend, terminate, or effect a cash settlement based on the actual or expected price level, performance or value of one (1) or more underlying interests. See Kentucky Statutes 304.7-012
• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means a person, other than a lienholder or secured party, who owns or has title to a motor vehicle or is entitled to the use and possession of a motor vehicle subject to a security interest held by another person. See Kentucky Statutes 304.39-020
• Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
• Participant: means any employee or former employee of an employer, or any member or former member of an employee organization, who is or may become eligible to receive a benefit of any type from an employee benefit plan which covers employees of the employer or members of the organization, or whose beneficiaries may be eligible to receive any benefit as established in Section 3(7) of ERISA. See Kentucky Statutes 304.17A-005
• Partner: means a limited partner or general partner. See Kentucky Statutes 362.2-102
• Partnership: means an association of two (2) or more persons to carry on as co- owners a business for profit formed under KRS §. See Kentucky Statutes 362.1-101
• 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
• Partnership agreement: means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement. See Kentucky Statutes 362.1-101
• Partnership agreement: means the partners' agreement, oral, implied, in record form, or in any combination, concerning the limited partnership. See Kentucky Statutes 362.2-102
• Partnership at will: means a partnership in which the partners have not agreed to remain partners until the expiration of a definite term or the completion of a particular undertaking. See Kentucky Statutes 362.1-101
• Person: means an individual, an entity, or any other legal or commercial entity. See Kentucky Statutes 362.1-101
• Person: includes but is not limited to any individual, partnership, association, trust, or corporation. See Kentucky Statutes 304.38-030
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Kentucky Statutes 362.2-102
• Person: means any individual, corporation, limited liability company, partnership, association, governmental body or entity, or voluntary organization. See Kentucky Statutes 304.42-050
• Person: includes , but is not limited to, any individual, partnership, association, limited liability company, trust, or corporation. See Kentucky Statutes 304.50-015
• Person: means an individual, a business entity, a multilateral development bank, or a government or quasi-governmental body, such as a political subdivision or a government sponsored enterprise. See Kentucky Statutes 304.7-012
• Person: means an individual, partnership, joint venture, military facility operated by a department or agency of the United States, profit or nonprofit corporation including a public or private college or university, limited liability company, or other entity or association of persons organized for agricultural, commercial, health care, or industrial purposes. See Kentucky Statutes 154.1-010
• Personal property: All property that is not real property.
• Personal risk liability: means liability for damages because of injury to any person, damage to property, or other loss or damage arising from any personal, familial, or household responsibilities or activities, rather than from responsibilities or activities referred to in subsection (8) of this section. See Kentucky Statutes 304.45-020
• Petit jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
• Pharmacy benefit manager: means an entity that, on behalf of a health benefit plan, state agency, insurer, managed care organization providing services under KRS Chapter 205, or other third-party payor:
  (a) Contracts directly or indirectly with pharmacies to provide prescription drugs to individuals. See Kentucky Statutes 304.9-020
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plan of operation or a feasibility study: means an analysis which presents the expected activities and results of a risk retention group, including, at a minimum:
  (a) Information sufficient to verify that its members are engaged in businesses or activities similar or related with respect to the liability to which its members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations. See Kentucky Statutes 304.45-020
• Plan sponsor: means :
  (a) The employer in the case of a benefit plan established or maintained by a single employer. See Kentucky Statutes 304.42-050
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Policy: means a contract of insurance providing mine subsidence insurance. See Kentucky Statutes 304.44-010
• Policyholder: means an individual person who elects and purchases individual
  travel insurance. See Kentucky Statutes 304.52-010
• Portable electronics: means electronic devices that are portable and the accessories and services related to the use of the device. See Kentucky Statutes 304.9-020
• Portable electronics insurance: means insurance providing coverage for the repair or replacement of portable electronics for any one (1) or more of the following:
  1. See Kentucky Statutes 304.9-020
• Portable electronics insurance supervising entity: means a business entity that is a licensed insurer or insurance agent that is appointed by an insurer to supervise the administration of a portable electronics insurance program. See Kentucky Statutes 304.9-020
• Portable electronics retailer: means a licensed business entity that offers and sells portable electronic devices and offers and disseminates portable electronics insurance on behalf and under the direction of a portable electronics insurance supervising entity. See Kentucky Statutes 304.9-020
• Potential exposure: means the amount determined in accordance with the NAIC Annual Statement Instructions. See Kentucky Statutes 304.7-012
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Preferred stock: means preferred, preference, or guaranteed stock of a business entity authorized to issue the stock, that has a preference in liquidation over the common stock of the business entity. See Kentucky Statutes 304.7-012
• Premium: means the gross rate charged policyholders for insurance provided by this subtitle. See Kentucky Statutes 304.44-010
• Premium: means the amount of money charged each member of the self-insured group to fund the obligations and expenses of the self-insured group. See Kentucky Statutes 304.50-015
• Premiums: shall mean premiums, rates, dues or other required contributions, however designated, which are payable under the certificate. See Kentucky Statutes 304.29-041
• present sale: means a sale which is accomplished by the making of the contract. See Kentucky Statutes 355.2-106
• Present value: means the amount as of a date certain of one (1) or more sums payable in the future, discounted to the date certain. See Kentucky Statutes 355.2A-103
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Preventive services: means medical services for the early detection of disease that are associated with substantial reduction in morbidity and mortality. See Kentucky Statutes 304.17A-005
• Principal office: means the office where the principal executive office of a limited partnership or foreign limited partnership is located, whether or not the office is located in this Commonwealth. See Kentucky Statutes 362.2-102
• Private sector: means any source other than the authority, a state or federal entity,
  or an agency thereof. See Kentucky Statutes 154.1-010
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Professional partnership: means a partnership organized under this subchapter or the laws of another state or foreign country for purposes that include, but are not limited to, the providing of one (1) or more professional services. See Kentucky Statutes 362.1-101
• Project: includes but is not limited to agribusiness, agricultural or forestry production, harvesting, storage, or processing facilities or equipment. See Kentucky Statutes 154.1-010
• Project: means any undertaking within or near a local parking district. See Kentucky Statutes 67A.912
• Property: means all property, real, personal, or mixed, tangible or intangible, or any interest therein. See Kentucky Statutes 362.1-101
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Prospective loss costs: means that portion of a rate that does not include provisions for expenses (other than loss adjustment expenses) or profit, and are based on historical aggregate losses or output from simulation models and loss adjustment expenses adjusted through development to their ultimate value and projected through trending to a future point in time. See Kentucky Statutes 304.13-011
• provider: means any:
  (a) Advanced practice registered nurse licensed under KRS Chapter 314. See Kentucky Statutes 304.17A-005
• provider: means the same as defined in KRS §. See Kentucky Statutes 304.17C-010
• Provider: means a person or group of persons licensed to practice medicine, osteopathy, dentistry, podiatry, optometry, or another health profession in a state or licensed to act as a hospital or another health care facility. See Kentucky Statutes 304.38-030
• Provider: means the same as defined in KRS §. See Kentucky Statutes 304.38A-010
• Provider network: means an affiliated group of varied health care providers that is established to provide a continuum of health care services to individuals. See Kentucky Statutes 304.17A-005
• Provider-sponsored integrated health delivery network: means any provider- sponsored integrated health delivery network created and qualified under KRS
  304. See Kentucky Statutes 304.17A-005
• Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
• Public adjuster: means any person who, for compensation or anything of value:
  (a) Acts on behalf of an insured or aids an insured, solely in relation to first-party claims arising under insurance contracts that insure the real or personal property of the insured, in negotiating for, or effecting the settlement of, a claim for loss or damage covered by an insurance contract. See Kentucky Statutes 304.9-020
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• public funds: means sums actually received in cash or negotiable instruments from all sources unless otherwise described by any state agency, state- owned corporation, university, department, cabinet, fiduciary for the benefit of any form of state organization, authority, board, bureau, interstate compact, commission, committee, conference, council, office, or any other form of organization whether or not the money has ever been paid into the Treasury and whether or not the money is still in the Treasury if the money is controlled by any form of state organization, except for those funds the management of which is to be reported to the Legislative Research Commission pursuant to KRS §. See Kentucky Statutes 446.010
• Public funds: means any funds derived from the levy of a tax, fee, assessment, or charge, or the issuance of bonds by the state or a city, county, or special purpose governmental entity. See Kentucky Statutes 65A.010
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods. See Kentucky Statutes 355.2A-103
• Purchaser: means an individual, organization, employer, association, or the Commonwealth that makes health benefit purchasing decisions on behalf of a group of individuals. See Kentucky Statutes 304.17A-005
• Purchasing group: means any group which:
  (a) Has as one (1) of its purposes the purchase of liability insurance on a group basis. See Kentucky Statutes 304.45-020
• Qualified actuary: means an associate or fellow of the Casualty Actuarial Society. See Kentucky Statutes 304.50-015
• Qualified bank: means :
  (a) A national bank, state bank, or trust company that at all times is no less than adequately capitalized as determined by standards adopted by the United States banking regulators and that is either regulated by state banking laws, or is a member of the Federal Reserve Bank of New York. See Kentucky Statutes 304.7-012
• Qualified business entity: means a business entity that is:
  (a) An issuer of obligations or preferred stock that are rated 1 or 2 by SVO or an issuer of obligations, preferred stock, or derivative instruments that are rated the equivalent of 1 or 2 by the SVO or by a nationally recognized statistical rating organization recognized by the SVO. See Kentucky Statutes 304.7-012
• Qualified clearinghouse: means a clearinghouse for, and subject to the rules of, a qualified exchange or a qualified foreign exchange, that provides clearing service, including acting as a counterparty to each of the parties to a transaction such that the parties no longer have credit risks as to each other. See Kentucky Statutes 304.7-012
• Qualified exchange: means :
  (a) A securities exchange registered as a national securities exchange, or a securities market regulated under the Securities Exchange Act of 1934 (15
  U. See Kentucky Statutes 304.7-012
• Qualified foreign exchange: means a foreign exchange, board of trade, or contract market located outside the United States, its territories, or possessions:
  (a) That has received regulatory comparability relief under Commodity Futures
  Trading Commission (CFTC) Rule 30. See Kentucky Statutes 304.7-012
• Qualified primary credit source: means the credit source to which an insurer looks for payment as in an investment and against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action can be brought in a domestic jurisdiction. See Kentucky Statutes 304.7-012
• Qualified veteran: means a person answering to the specifications set forth in subsections (2) and (3), and who
  (a) Was a resident of the Commonwealth at the time of entry into active service in the Armed Forces and for at least six (6) months prior thereto. See Kentucky Statutes 40.010
• Quorum: The number of legislators that must be present to do business.
• Rate: means the expected value of the future cost of insurance per exposure unit
  which accounts for the treatment of losses, expenses, and profit prior to any
  application of individual risk variations based on loss or expense considerations, but does not include minimum premium. See Kentucky Statutes 304.50-015
• Rate: means the expected value of the future cost of insurance per exposure unit which accounts for the treatment of losses, expenses, and profit prior to any application of individual risk variations based on loss or expense considerations, but does not include minimum premium. See Kentucky Statutes 304.13-011
• Rated credit instrument: means a contractual right to receive cash or another rated credit instrument from another entity that:
  1. See Kentucky Statutes 304.7-012
• Rating period: means the calendar period for which premium rates are in effect. See Kentucky Statutes 304.17A-005
• real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
• Real estate: means :
  (a) 1. See Kentucky Statutes 304.7-012
• Real estate: includes lands together with improvements thereon and appurtenances thereto. See Kentucky Statutes 56.440
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Receipts: includes the following:
  (a) "Nonrevenue receipts" means values accruing that either decrease an asset or create a liability. See Kentucky Statutes 48.010
• Receivership court: means the court in the insolvent or impaired insurer's state having jurisdiction over the conservation, rehabilitation, or liquidation of the member insurer. See Kentucky Statutes 304.42-050
• Reclamation development fund: means the fund administered by the Kentucky Economic Development Finance Authority to foster economic development on surface mining land. See Kentucky Statutes 154.1-010
• Reclamation development plan: means a plan submitted to the Energy and Environment Cabinet to show compliance with reclamation standards, and submitted to the Kentucky Economic Development Finance Authority to seek moneys from the reclamation development fund for a reclamation development project. See Kentucky Statutes 154.1-010
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Kentucky Statutes 362.2-102
• Record: when used in connection with the proceedings of a court-martial, means: (a) An official written transcript, written summary, or other writing relating to the
  proceedings. See Kentucky Statutes 35.010
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Refund: means to provide for the payment of debt charges and expenses related to that payment at or prior to retirement by purchase, call for redemption, payment at maturity, or otherwise, outstanding obligations of an issuer or its instrumentality, including, without limitation, bonds. See Kentucky Statutes 66.011
• Register: means the books kept and maintained for registration, exchange, and transfer of registered bonds. See Kentucky Statutes 66.011
• Registered mail: means any governmental, commercial, or electronic method of delivery that allows a document or package to have:
  (a) Its chain of custody recorded in a register to enable its location to be tracked. See Kentucky Statutes 446.010
• Regular election: means the election in even-numbered years at which members of Congress are elected and the election in odd-numbered years at which state officers are elected. See Kentucky Statutes 446.010
• Regulatory board: means the agency that is charged by law with the licensing and regulation of the practice of the profession which the professional partnership is organized to provide. See Kentucky Statutes 362.1-101
• Release: means , but is not limited to, any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, or disposing into the environment, including the abandonment or discarding of barrels, containers and other closed receptacles, of any hazardous substance. See Kentucky Statutes 39E.020
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• Rental vehicle agent: means a business entity with a rental vehicle agent managing employee that is licensed to sell, solicit, or negotiate insurance offered, sold, or solicited in connection with, and incidental to, the rental of rental vehicles, whether at the rental office or by preselection of coverage in master, corporate, or group agreements that:
  (a) Are nontransferable. See Kentucky Statutes 304.9-020
• Rental vehicle agent managing employee: means an individual who:
  (a) Is a salaried full-time employee of a licensed rental vehicle agent business entity that holds a license under KRS §. See Kentucky Statutes 304.9-020
• Rental vehicle insurance: means insurance underwritten by an insurer authorized to transact business in Kentucky that is sold in connection with, and incidental to, a rental vehicle agreement. See Kentucky Statutes 304.9-020
• Reparation obligor: means an insurer, self-insurer, or obligated government providing basic or added reparation benefits under this subtitle. See Kentucky Statutes 304.39-020
• Replacement services loss: means expenses reasonably incurred in obtaining ordinary and necessary services in lieu of those the injured person would have performed, not for income but for the benefit of himself or his family, if he had not been injured. See Kentucky Statutes 304.39-020
• Replication transaction: means a derivative transaction that is intended to replicate the performance of one (1) or more assets that an insurer is authorized to acquire under this subtitle. See Kentucky Statutes 304.7-012
• report: means any written method of transporting data. See Kentucky Statutes 41.010
• Reportable quantity: means an amount of hazardous substances released which requires notification to local and state warning points. See Kentucky Statutes 39E.020
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Required information: means the information that a limited partnership is required to maintain under KRS §. See Kentucky Statutes 362.2-102
• Required liabilities: means total liabilities required to be reported on the statutory financial statement of the insurer most recently required to be filed with the commissioner. See Kentucky Statutes 304.7-012
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Rescue: means gaining access, rendering appropriate care, and transporting of a person or persons by whatever means, to a safe environment for appropriate care. See Kentucky Statutes 39F.010
• Resident: means any person to whom a contractual obligation is owed and who resides in this state on the date when a member insurer is determined to be an impaired or insolvent insurer, whichever occurs first. See Kentucky Statutes 304.42-050
• Residential mortgage loan: means a loan primarily secured by a mortgage on real estate improved with a one (1) to four (4) family residence. See Kentucky Statutes 304.7-012
• residual market mechanism: is a n agreement, either voluntary or mandated by law, involving participation by insurers in the equitable apportionment among them of insurance that may be afforded applicants who are unable to obtain insurance through ordinary methods. See Kentucky Statutes 304.13-011
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Revenue receipts: means values accruing as a result of taxation or revenues, or both, and without resultant increase in liabilities or decrease in assets, whether such values are represented by cash actually received or by amounts due and payable, or partly by each. See Kentucky Statutes 48.010
• Revenue shortfall: means either:
  (a) An official revenue estimate for either the general fund or road fund that is less than the enacted estimates. See Kentucky Statutes 48.010
• Reverse repurchase transaction: means a transaction in which an insurer sells securities to a business entity and is obligated to repurchase the sold securities or equivalent securities from the business entity at a specified price, either within a specified period of time or upon demand. See Kentucky Statutes 304.7-012
• Risk retention group: means any corporation or other limited liability association: (a) Whose primary activity consists of assuming and spreading all, or any portion,
  of the liability exposure of its group members. See Kentucky Statutes 304.45-020
• Rules: shall mean all rules, regulations or resolutions adopted by the supreme governing body or board of directors which are intended to have general application to the members of the society. See Kentucky Statutes 304.29-041
• Search: means the process of looking for a person or persons whose location is not precisely known, and who may be in distress. See Kentucky Statutes 39F.010
• Search and rescue mission: includes , but is not limited to, searching for a missing or lost person or persons, cave rescue, high angle or rough terrain rescue, urban search and rescue, dive rescue and recovery of drowning victims, inland water search, rescue, and recovery. See Kentucky Statutes 39F.010
• Secretary: means the secretary of the Finance and Administration Cabinet. See Kentucky Statutes 41.010
• Secured location: means the contiguous real estate owned by one (1) person. See Kentucky Statutes 304.7-012
• Securities lending transaction: means a transaction in which securities are loaned by an insurer to a business entity that is obligated to return the loaned securities or equivalent securities to the insurer, either within a specified period of time or upon
  demand. See Kentucky Statutes 304.7-012
• Security: means any continuing undertaking complying with this subtitle, for payment of tort liabilities, basic reparation benefits, and all other obligations imposed by this subtitle. See Kentucky Statutes 304.39-020
• Self-insurance year: means the annual period of certification of the self-insured group authorized under KRS §. See Kentucky Statutes 304.50-015
• Self-insured group: means a group self-insurance fund. See Kentucky Statutes 304.50-015
• Self-insured plan: means a group health insurance plan in which the sponsoring organization assumes the financial risk of paying for covered services provided to its enrollees. See Kentucky Statutes 304.17A-005
• Self-supporting obligations: means obligations issued for the purpose of paying costs of public projects to the extent that receipts of the issuer, other than the proceeds of taxes levied by that issuer, derived from or with respect to that public project or the operation of the public project being financed, or the enterprise, system, or category of public project of which the public project being financed is part, are estimated by the governing body or a representative of the governing body to be sufficient to pay the current expenses of that operation or of that public project, enterprise, or system and the debt charges payable from those receipts on obligations issued for that public project. See Kentucky Statutes 66.011
• Sell: means to exchange a contract of insurance by any means, for money or other valuable consideration, on behalf of an insurer. See Kentucky Statutes 304.9-020
• Seller: means a person who sells or contracts to sell goods. See Kentucky Statutes 355.2-103
• Senior force judge advocate: means the senior judge advocate of the commander of the same force of the state military forces as the accused and who is that commander's chief legal advisor. See Kentucky Statutes 35.010
• Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
• Service of process: The service of writs or summonses to the appropriate party.
• Service organization: means a person or entity that provides services to a self- insured group and includes claims adjustment, safety engineering, statistical compilation, preparation of premium charges, loss and tax reports or other reports required by the commissioner, administration of the self-insured group, marketing services, placement of excess insurance, development of member payroll audits, administration of investments, or legal assistance. See Kentucky Statutes 304.50-015
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Sheriff: means the sheriff of a county or the sheriff in a county containing a consolidated local government who has been duly elected by the qualified voters as provided in Section 99 of the Constitution of the Commonwealth of Kentucky. See Kentucky Statutes 67B.020
• Shipper: means a person that enters into a contract of transportation with a carrier. See Kentucky Statutes 355.7-102
• Short-term: means investments with a remaining term to maturity of ninety
  (90) days or less. See Kentucky Statutes 304.7-012
• signature: includes any manual, facsimile, or conformed or electronic signature. See Kentucky Statutes 362.2-102
• Sinking fund: means a fund established for the management of moneys to be used for the retirement of outstanding bonds. See Kentucky Statutes 66.011
• Sinking fund stock: means preferred stock that:
  (a) Is subject to a mandatory sinking fund or similar arrangement that will provide for the redemption or open market purchase of the entire issue over a period not longer than forty (40) years from the date of acquisition. See Kentucky Statutes 304.7-012
• Small employer: means , in connection with a group health plan with respect to a calendar year and a plan year, an employer who employed an average of at least two (2) but not more than fifty (50) employees on business days during the preceding calendar year and who employs at least two (2) employees on the first day of the plan year. See Kentucky Statutes 304.17A-005
• Small group: means :
  (a) A small employer with two (2) to fifty (50) employees. See Kentucky Statutes 304.17A-005
• Society: shall mean fraternal benefit society, unless otherwise indicated. See Kentucky Statutes 304.29-041
• Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular insurer. See Kentucky Statutes 304.9-020
• Special purpose governmental entity: shall include entities meeting the requirements established by paragraph (a) of this subsection, whether the entity is formed as a nonprofit corporation under KRS Chapter 273, pursuant to an interlocal cooperation agreement under KRS §. See Kentucky Statutes 65A.010
• Special rated credit instrument: means a rated credit instrument that is:
  (a) An instrument that is structured so that, if it is held until retired by or on behalf of the issuer, its rate of return, based on its purchase cost and any cash flow stream possible under the structure of the transaction, may become negative due to reasons other than the credit risk associated with the issuer of the instrument. See Kentucky Statutes 304.7-012
• Specialized rescue squad: means a rescue squad which performs one (1) or more of the following functions as the primary or sole mission of the organization:
  (a) Cave rescue. See Kentucky Statutes 39F.010
• Specific excess insurance: means an insurance policy which insures the amount of a claim from one (1) occurrence involving one (1) or more employees or employers in the same occurrence or incident of exposure in excess of a specified dollar amount to a stated limit. See Kentucky Statutes 304.50-015
• SSAP: means the statements of statutory accounting principles in the accounting practices and procedures manual. See Kentucky Statutes 304.6-005
• Staff adjuster: means an individual who is an employee of an insurer who investigates, negotiates, or settles property, casualty, or workers' compensation claims on behalf of his or her employer. See Kentucky Statutes 304.9-020
• State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Kentucky Statutes 362.1-101
• State: means a State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Kentucky Statutes 362.2-102
• State: means a state, the District of Columbia, Puerto Rico, and a United States possession, territory, or protectorate. See Kentucky Statutes 304.42-050
• State: means any state of the United States or the District of Columbia. See Kentucky Statutes 304.45-020
• State: means a state, territory, or possession of the United States, the District of
  Columbia, or the Commonwealth of Puerto Rico. See Kentucky Statutes 304.7-012
• State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
• State: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
• State active duty: is:
  (a) The ordering by the Governor of personnel or units of the Kentucky National
  Guard to perform any duty authorized by KRS §. See Kentucky Statutes 38.010
• State agency: means any state officer, department, board, commission, institution, division, or other person or functional group that is authorized to exercise or does exercise any executive or administrative jurisdiction, powers, duties, rights or obligations of the state government conferred or imposed by law or exercised, performed, or discharged by legal authority in compliance with law. See Kentucky Statutes 43.010
• State agency: means any state administrative body, agency, department, or division as defined in KRS §. See Kentucky Statutes 56.440
• State depository: means any bank designated to take custody of state funds on deposit pursuant to KRS §. See Kentucky Statutes 41.010
• State local debt officer: as used in this chapter and other provisions of law, means the commissioner, Department for Local Government or the commissioner's agent designated in writing. See Kentucky Statutes 66.011
• State military forces: means the Kentucky National Guard as defined in Title 32 of the United States Code and as organized under the Constitution and laws of the Commonwealth of Kentucky. See Kentucky Statutes 35.010
• Statement: means a statement of partnership authority under KRS §. See Kentucky Statutes 362.1-101
• Statistical agent: means an entity that has been licensed by the commissioner to collect statistics from insurers and provide reports developed from these statistics to the commissioner for the purpose of fulfilling the statistical reporting obligations of those insurers under this chapter. See Kentucky Statutes 304.13-011
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Stop-loss carrier: means any person providing stop-loss health insurance coverage. See Kentucky Statutes 304.17B-001
• Structure: means any dwelling, building, or fixture permanently affixed to realty, but does not include land, trees, plants, or crops. See Kentucky Statutes 304.44-010
• Subdistrict: means a part of a district having a different degree of benefit from the remainder of the district. See Kentucky Statutes 67A.912
• Sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See Kentucky Statutes 355.2A-103
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Substantially similar securities: means securities that meet all criteria for substantially similar securities specified in the NAIC Accounting Practices and Procedures manual, as amended, and in an amount that constitutes good delivery form as determined from time to time by the Public Securities Administration. See Kentucky Statutes 304.7-012
• Summons: Another word for subpoena used by the criminal justice system.
• Superior commissioned officer: means a commissioned officer superior in rank or command. See Kentucky Statutes 35.010
• Supervisory college: means a forum for cooperation and communication between the involved supervisors established for the fundamental purpose of facilitating the effectiveness of supervision of entities which belong to an insurance group and facilitating both the supervision of the group as a whole on a groupwide basis and improving the legal entity supervision of the entities within the insurance group. See Kentucky Statutes 304.37-010
• Supplementary rating information: includes any manual or plan of rates, classification, rating schedule, minimum premium, policy fees, rating rules, or any other similar information needed to determine the applicable rate or premium. See Kentucky Statutes 304.13-011
• Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Kentucky Statutes 355.2A-103
• Supply contract: means a contract under which a lessor buys or leases goods to be leased. See Kentucky Statutes 355.2A-103
• Surety: means insurance or bond that covers obligation to pay the debts of, or answer for the default of another, including faithlessness in a position of public or private trust. See Kentucky Statutes 304.9-020
• Surplus: means the undesignated fiscal year ending fund balance for the general fund or road fund, reduced by amounts designated to carry forward for appropriation in a subsequent fiscal year. See Kentucky Statutes 48.010
• Surplus lines: means nonadmitted insurance sold to, solicited by, or negotiated with an insured whose home state is Kentucky. See Kentucky Statutes 304.10-030
• Survivor: means a person identified in KRS §. See Kentucky Statutes 304.39-020
• SVO: means the Securities Valuation Office of the NAIC or any successor office established by the NAIC. See Kentucky Statutes 304.7-012
• Swap: means an agreement to exchange or to net payments at one (1) or more times based on the actual or expected price, level, performance, or value of one (1) or more underlying interests. See Kentucky Statutes 304.7-012
• Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
• Taxing district: means an issuer, other than a county, city, urban-county, or charter county authorized to levy ad valorem taxes within the meaning of Section 157 of the Constitution of Kentucky which is not a school district. See Kentucky Statutes 66.011
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Transfer: includes an assignment, conveyance, lease, mortgage, deed, and encumbrance. See Kentucky Statutes 362.1-101
• Transfer: includes an assignment, conveyance, deed, bill of sale, lease, mortgage, security interest, encumbrance, gift, and transfer by operation of law. See Kentucky Statutes 362.2-102
• Transferable interest: means the partner's right to receive distributions. See Kentucky Statutes 362.2-102
• Transferee: means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner. See Kentucky Statutes 362.2-102
• Treatment: when used in a criminal justice context, means targeted interventions
  that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
• Trending: is a ny procedure for projecting developed losses to the average date of loss, or premiums or exposures to the average date of writing, for the period during which the policies are to be effective. See Kentucky Statutes 304.13-011
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Trustees: means persons elected by the group members or appointed by the board of directors of the sponsoring trade association or association of governmental entities to oversee the administration of the self-insured group. See Kentucky Statutes 304.50-015
• Unallocated annuity contract: means any annuity contract or group annuity certificate which is not issued to and owned by an individual, except to the extent of any annuity benefits guaranteed to an individual by an insurer under such contract or certificate. See Kentucky Statutes 304.42-050
• Underlying interest: means the assets, liabilities, other interests, or a combination thereof underlying a derivative instrument, such as any one (1) or more securities, currencies, rates, indices, commodities, or derivative instruments. See Kentucky Statutes 304.7-012
• Uniform business entity application: means the current version of the uniform business entity application for resident and nonresident business entities. See Kentucky Statutes 304.9-020
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• uniformed services: means the Armed Forces and the Commissioned Corps of the National Oceanic and Atmospheric Administration and of the Public Health Service. See Kentucky Statutes 304.17A-005
• Unrestricted surplus: means the amount by which total admitted assets exceed one hundred twenty-five percent (125%) of the insurer's required liabilities. See Kentucky Statutes 304.7-012
• Use of a motor vehicle: means any utilization of the motor vehicle as a vehicle including occupying, entering into, and alighting from it. See Kentucky Statutes 304.39-020
• user: means a person who resides in a household in which any person owns or maintains a motor vehicle. See Kentucky Statutes 304.39-020
• User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Vacancy in office: or any equivalent phrase, means such as exists when there is an unexpired part of a term of office without a lawful incumbent therein, or when the person elected or appointed to an office fails to qualify according to law, or when there has been no election to fill the office at the time appointed by law. See Kentucky Statutes 446.010
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Veteran: means a person who served in the active Armed Forces of the United States, during the Spanish American War, World War I, World War II, or the Korean conflict, for a period of ninety (90) days or more (exclusive of time spent AWOL. See Kentucky Statutes 40.010
• Veteran at risk: means a veteran or an active-duty member of the Armed Forces, the National Guard, or a military reserve component of the United States who is known to have a physical or mental health condition, to include post-traumatic stress disorder (PTSD), that is related to his or her service. See Kentucky Statutes 39F.010
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
• Victim advocate: work with prosecutors and assist the victims of a crime.
• Victim Impact Statement: A written or spoken statement by the victim or his or her representative about the physical, emotional, and financial impact of a crime on the victim. The statement is given to the court before sentencing.
• Violate: includes failure to comply with. See Kentucky Statutes 446.010
• Voice vote: A vote in which the Presiding Officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of legisators voting on each side are not recorded.
• Voting security: includes any security convertible into or evidencing a right to acquire a voting security. See Kentucky Statutes 304.37-010
• Warehouse: means a person engaged in the business of storing goods for hire. See Kentucky Statutes 355.7-102
• Warning point: means that location, operated by state or local government, and identified by the state commission or local committee, and which is continuously staffed, and which has the capability or responsibility to contact governmental emergency response organizations and, if capability exists, to warn the public of hazards which may affect them. See Kentucky Statutes 39E.020
• Warrant: means a printed or electronic authorization from the Finance and
  Administration Cabinet for the Treasurer to issue a check. See Kentucky Statutes 41.010
• Warrant: means an instrument that gives the holder the right to purchase an underlying financial instrument at a given price and time or at a series of prices and times outlined in the warrant agreement. See Kentucky Statutes 304.7-012
• Widow: means a woman who was the wife of a veteran at the time of his death, and who had not deserted him (except where there was a separation which was due to the misconduct of, or procured by, the veteran without the fault of the wife), and who had not remarried, (unless the purported remarriage was void or had been annulled). See Kentucky Statutes 40.010
• World War II: means the period beginning December 7, 1941, and ending
  December 31, 1946. See Kentucky Statutes 40.010
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• written: means letters, words, or numbers, or their equivalent, set down by handwriting, typewriting, printing, photostating, photographing, magnetic impulse, mechanical or electronic recording, or other form of data compilation. See Kentucky Statutes 41.010
• written: means letters, words, or numbers, or their equivalent, set down by handwriting, typewriting, printing, photostating, photographing, magnetic impulse, mechanical or electronic recording, or other form of data compilation. See Kentucky Statutes 42.001
• written: means letters, words, or numbers, or their equivalent, set down by handwriting, typewriting, printing, photostating, photographing, magnetic impulse, mechanical or electronic recording, or other form of data compilation. See Kentucky Statutes 43.010
• written: means letters, words, or numbers, or their equivalent, set down by handwriting, typewriting, printing, photostating, photographing, magnetic impulse, mechanical or electronic recording, or other form of data compilation. See Kentucky Statutes 44.001
• written: means letters, words, or numbers, or their equivalent, set down by handwriting, typewriting, printing, photostating, photographing, magnetic impulse, mechanical or electronic recording, or other form of data compilation. See Kentucky Statutes 45.0005
• written: means letters, words, or numbers, or their equivalent, set down by handwriting, typewriting, printing, photostating, photographing, magnetic impulse, mechanical or electronic recording, or other form of data compilation. See Kentucky Statutes 48.010
• written: shall mean letters, words, or numbers, or their equivalent, set down by handwriting, typewriting, printing, photostating, photographing, magnetic impulse, mechanical or electronic recording, or other form of data compilation. See Kentucky Statutes 56.440
• Year: means calendar year. See Kentucky Statutes 446.010