{"data":{"id":"us-ky/krs-304.17a-832","jurisdiction":"us-ky","citation":"KRS 304.17A-832","heading":"Statement of financial condition -- Authority for administrative","body":"regulations.\n(1) All self -insured employer -organized association groups shall file with the\ncommissioner a statement of financial condition audited by an independent certified\npublic accountant on or before one hundred twenty (120) days from the end of the\ngroup's fiscal year for the immediately preceding fiscal year. The financial statement\nshall be in a form approved by the commissioner and shall include:\n(a) Actuarially appropriate reserves for:\n1. Known claims and expenses associated therewith.\n2. Claims incurred but not reported and any expenses associated therewith.\n3. Unearned contributions and assessments.\n4. Bad debts, which reserves shall be known as liabilities.\n(b) An actua rial opinion by a qualified actuary and a supporting reserve study\nregarding reserves for known claims and expenses associated therewith. The\nreserve study shall include documentation sufficient for another actuary\npracticing in the same field to evaluate the work. The documentation shall\ndescribe clearly the sources of data, material assumptions, and methods.\n(2) No person shall make a deceptive statement or fail to correct a misstatement in\nconnection with the solicitation of membership of a group.\n(3) The financial statements required by this section shall be completed in accordance\nwith administrative regulations promulgated by the commissioner.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29377","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:48Z","sha256":"607af6f69da7693a812ede00278c91d55eb945a2677e6433b55d6830839b0953","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.17a-830","next":"us-ky/krs-304.17a-834"},"notice":"GroundRules: Original legal text. Not legal advice."}