KRS 304.50-100: Dissolution of self -insured program -- Approval of plan by

commissioner.

(1) If a self -insured group decides to dissolve its self -insured program, the trustees

shall:

(a) File a detailed plan of dissolution with the commissioner for prior approval;

(b) Provide sixty (60) days written notice by certified mail to the commissione r

and each group member;

(c) Pay approved dividends; and

(d) Establish arrangements for the continued payment and servicing of all

outstanding claims, including incurred but not reported claims.

(2) The commissioner shall approve the plan unless the commis sioner determines it to

be unlawful, unfair, inequitable, or prejudicial to the interests of the members or

injured workers, or the plan does not fully discharge all obligations of the group.