{"data":{"id":"us-ky/krs-304.2-440","jurisdiction":"us-ky","citation":"KRS 304.2-440","heading":"Assessment of insurers.","body":"(1) As used in this section, \"insurer\" means assessment or cooperative insurers,\ninsurers, fraternal benefit societies, nonprofit hospital, medical -surgical, dental, and\nhealth service corporations, health maintenance organizations, and prepaid dental\nplan organizations.\n(2) If the commissioner finds that there are insufficient funds for operations of the\ndepartment, the commissioner may make an assessment on all insurers not to\nexceed .000235 of net direct written premium from Kentucky as reported in\ninsurers' annual statements for the immediately preceding calendar year. In making\neach assessment, the commissioner may establish a minimum assessment.\nAssessments made pursuant to this section shall be in addition to all other taxes,\nassessments, and fees.\n(3) Overdue payment of any assessments shall bear interest at the tax interest rate as set\nforth in KRS 131.010(6) from the date due until paid. Any unpaid assessment may\nbe recovered in an action brought thereon in the name of the department in the\nFranklin Circuit Court or in any other court of appropriate jurisdiction. Such interest\npenalty is separate from other penalties applicable to violations of KRS Chapter 299\nand this chapter and such an action is separate from any other means of collecting\nan assessment under KRS Chapter 299 or this chapter.\n(4) All funds derived from assessments made pursuant to this section shall be deposited\nin the insurance regulatory trust fund. However, funds derived from assessments\nmade pursuant to this section shall not lapse t o the general fund, but shall at all\ntimes be available to defray expenses of the department in discharge of its\nadministrative and regulatory powers.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16695","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:37Z","sha256":"5aa2a6e6823f36f8ddce6d17e9c17301700c181be14959ed32b0f08bd8b3b38a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.2-430","next":"us-ky/krs-304.2-450"},"notice":"GroundRules: Original legal text. Not legal advice."}