KRS 342.345: Certificate of individual self -insurance -- Revocation -- New certificate --

Effect of revocation.

(1) Whenever an employer has complied with the provisions of KRS 342.340 relating

to individual self -insurance, the commissioner shall issue to the empl oyer a

certificate which shall remain in force for a period fixed by the commissioner. But

the commissioner may, upon at least ten (10) days' notice and a hearing to the

employer, revoke or suspend the certificate upon satisfactory evidence that

revocation or suspension is appropriate. If the commissioner revokes a certificate,

the commissioner may thereafter, upon petition of the employer and a hearing, grant

a new certificate, but the employer shall not, as a matter of right, be entitled to a

hearing for this purpose sooner than six (6) months following an order of the

commissioner revoking the employer's certificate.

(2) A self-insurer whose certificate to self-insure has been revoked is not relieved of its

obligations for compensation to its employees fo r work -related injuries or

occupational diseases that occur during the period of self -insurance. The required

security shall be maintained with the commissioner or under the commissioner's

control until each claim for workers' compensation benefits has bee n paid, been

settled, or lapsed under this chapter.