KRS 304.17A-810: Conditions for issuance of certificate of filing.

Upon 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.