Ky. Rev. Stat. § 342.819

Current through 2024 Ky. Acts ch. 225

Section 342.819 - Dividends

On an annual basis, the board may declare a dividend in accordance with Subtitle 24 of KRS Chapter 304, and distribute the same in the form of premium discounts, dividends, or a combination of dividends and discounts, at its discretion, if:

(1) The funding obtained pursuant to KRS 342.829 has been repaid in full;

(2) An independent actuarial report of the prior year's operations has been completed and reviewed by the board;

(3) The authority has met all expenses for administration and claims for the prior year; and

(4) Adequate reserves exist to pay all claims.

KRS 342.819

Effective:4/4/1994
Created 1994 Ky. Acts ch. 181, Part 12, sec. 48, effective4/4/1994.