Kentucky
General Assembly

Search

Senate Bill 77

Actions
Last Action signed by Governor (Acts ch. 48)
Title AN ACT relating to self-insurance groups.
Bill Documents Bill
Bill Request Number 895
Sponsor T. Buford
Summary of Original Version Amend KRS 304.33-020 to clarify that liability self-insurance groups are subject to the insurance code rehabilitation and liquidation statutes, rather than bankruptcy proceedings; amend KRS 304.48-090 to specify the authorized investments for liability self-insurance groups; amend KRS 304.48-140 to require a liability self-insurance group board of trustees to establish a formal conflict-of-interest or code-of-conduct policy applicable to the board of trustees; remove the exemption for governmental entity self-insurance groups from board of trustee membership restrictions; amend KRS 304.48-170 to require liability self-insurance groups to file quarterly financial statements with the executive director of the Office of Insurance and require a self insured group to make the statement of financial condition available to a group member upon request; amend KRS 304.48-180 to clarify that the rates, underwriting guidelines, and evidences of coverage of a liability self-insurance group are to be filed with the executive director and reviewed and approved in the same manner as private insurers; amend KRS 304.48-240 to clarify that liability self-insurance groups are subject to the unfair trade practices provisions of Subtitle 12 of KRS Chapter 304; amend KRS 304.48-250 to provide that if a liability self-insurance group fails to make an assessment levied against it by the executive director for insufficient assets, it may be placed in delinquency proceedings pursuant to Subtitle 33 of KRS Chapter 304; amend KRS 304.48-260 to authorize the executive director to suspend or revoke the certificate of filing of a liability self-insurance group or impose a civil penalty for violation of the unfair trade practices provisions of Subtitle 12 of KRS Chapter 304 and administrative regulations promulgated pursuant thereto; create a new section of Subtitle 48 of KRS Chapter 304 to clarify that liability self-insurance groups are subject to the unfair trade practices provisions of Subtitle 12 of KRS Chapter 304 and the administrative hearing requirements contained in KRS 304.2-310 to 304.2-370; amend KRS 304.50-155 to clarify that workers' compensation self-insured groups are subject to the unfair trade practice provisions contained in Subtitle 12 of KRS Chapter 304.
Index Headings of Original Version Insurance - Liability self-insurance groups, investments, rehabilitation and liquidation
Insurance - Liability self-insurance groups, conflict of interest policy, establish
Insurance - Liability self-insurance groups, quarterly financial statements, required filings
Insurance - Self-insurance groups, compliance with unfair trade practice provisions, require
Votes Vote History

Actions

Top
01/06/10
  • introduced in Senate
01/07/10
  • to Banking & Insurance (S)
01/26/10
  • reported favorably, 1st reading, to Calendar
01/27/10
  • 2nd reading, to Rules
02/05/10
  • posted for passage in the Regular Orders of the Day for Monday, February 8, 2010
02/08/10
  • passed over and retained in the Orders of the Day
02/09/10
  • 3rd reading, passed 38-0
02/10/10
  • received in House
02/12/10
  • to Banking & Insurance (H)
02/26/10
  • posted in committee
03/03/10
  • reported favorably, 1st reading, to Calendar
03/04/10
  • 2nd reading, to Rules
03/09/10
  • posted for passage in the Regular Orders of the Day for Wednesday, March 10, 2010
03/19/10
  • 3rd reading, passed 92-0
03/22/10
  • received in Senate
  • enrolled, signed by President of the Senate
03/23/10
  • enrolled, signed by Speaker of the House
  • delivered to Governor
03/30/10
  • signed by Governor (Acts ch. 48)


Last updated: 8/28/2019 7:34 AM (EDT)