Section 304.17A-810 - Conditions for issuance of certificate of filingUpon receipt of an application for a certificate of filing, the commissioner shall issue or deny the same. A certificate of filing shall be issued only if the commissioner finds that the applicant has complied with KRS 304.17A-808, has paid the application fee, and the commissioner is satisfied that the following conditions are met:
(1) The persons responsible for the conduct of the affairs of the self-insured employer-organized association group are competent, trustworthy, and possess good reputation; and(2) The self-insured employer-organized association group is financially responsible and may reasonably be expected to meet its obligations to participants and prospective participants. In making this determination, the commissioner may consider: (a) The adequacy of working capital;(b) Any agreement with an insurer, a government, or any other organization for insuring the payment of health claims or the provision for automatic applicability of an alternative coverage in the event of discontinuance of the self-insurance group; and(c) Compliance with KRS 304.17A-812, as a guarantee that the obligations will be duly performed.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1260, effective7/15/2010. -- Created 2003, Ky. Acts ch. 78, sec. 6, effective 6/24/2003.