KRS 304.42-060: Creation of association -- Membership required -- Functions --

Accounts -- Supervision by commissioner.

(1) There is created a nonprofit legal entity to be known as the Kentucky Life and

Health Insurance Guaranty Association. All member insu rers shall be and remain

members of the association as a condition of their license or authority to transact

insurance or health maintenance organization business in this state. The association

shall perform its functions under the plan of operation establ ished and approved

under KRS 304.42 -100 and shall exercise its powers through a board of directors

established under KRS 304.42-070. For purposes of administration and assessment,

the association shall maintain three (3) accounts:

(a) The health account;

(b) The life insurance account; and

(c) The annuity account.

(2) The association shall come under the immediate supervision of the commissioner

and shall be subject to the applicable provisions of the insurance laws of this state.