KRS 304.42-020: Purpose of subtitle.

The purpose of this subtitle is to protect the persons specified in KRS 304.42 -030(1),

subject to certain limitations, against failure in the performance of contractual obligations

under life, health, and annuity policies, plans, or contracts specified in KRS 304.42 -

030(2) because of the impairment or insolvency of the member insurer that issued the

policies, plans, or contracts. To provide this protection:

(1) An association of member insurers is created to pay benefits and to continue

coverages as limited by this subtitle; and

(2) Member insurers of the association are subject to assessment to provide funds to

carry out the purpose of this subtitle.