Ky. Rev. Stat. § 304.48-260

Current through 2024 Ky. Acts ch. 225
Section 304.48-260 - Commissioner's enforcement authority
(1) After a hearing or upon agreement by the liability self-insurance group, the commissioner may suspend or revoke the certificate of filing of a liability self-insurance group, impose a civil penalty of up to five thousand dollars ($5,000) per violation on a liability self-insurance group, or both, for:
(a) Violations of this subtitle or administrative regulations adopted thereunder;
(b) Obtaining a certificate of filing by unfair or deceptive means;
(c) Operating in a financially hazardous manner;
(d) Misappropriation, conversion, illegal withholding, or refusal to pay over upon proper demand any moneys that belong to a member, an employee of a member, or a person otherwise entitled thereto by the group or its administrator; or
(e) Violations of Subtitle 12 of this chapter or administrative regulations promulgated pursuant thereto.
(2) The commissioner, in his or her discretion and without advance notice or a hearing thereon, may suspend or revoke the certificate of filing of any liability self-insurance group upon the commencement of the following proceedings:
(a) Receivership;
(b) Conservatorship;
(c) Rehabilitation; or
(d) Other delinquency proceedings.

KRS 304.48-260

Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1605, effective7/15/2010; and ch. 48, sec. 8, effective7/15/2010. -- Created 1994 Ky. Acts ch. 358, sec. 26, effective 7/15/1994.