{"data":{"id":"us-ky/krs-304.41-040","jurisdiction":"us-ky","citation":"KRS 304.41-040","heading":"Plan of operation.","body":"(1) Within forty-five (45) days following the order of the commissioner implementing\nthe operation of the association, the directors of the association shall submit to the\ncommissioner for his or her review a proposed plan of operation, consistent with the\nprovisions of this subtitle.\n(2) The plan of operation shall provide for economic, fair, and nondiscriminatory\nadministration and for the prompt and efficient provision of legal professional\nliability insurance; and shall contain other provisions including, b ut not limited to,\npreliminary assessment of all members for initial expenses necessary to commence\noperations, establishment of necessary facilities, management of the association,\nassessment of members to defray losses and expenses, commission arrangemen ts,\nreasonable and objective underwriting standards, acceptance and cession of\nreinsurance, appointment of servicing carriers or other servicing arrangements and\nprocedures for determining amounts of insurance to be provided by the association.\n(3) The pla n of operation shall be subject to approval by the commissioner after\nconsultation with the members of the association, representatives of the public, and\nother affected individuals and organizations. If the commissioner disapproves all or\nany part of the proposed plan of operation, the directors shall within fifteen (15)\ndays submit for review an appropriate revised plan of operation or part thereof. If\nthe directors fail to do so, the commissioner shall promulgate a plan of operation or\npart thereof, as the case may be. The plan of operation approved or promulgated by\nthe commissioner shall become effective upon order of the commissioner.\n(4) Amendments to the plan of operation may be made by the directors of the\nassociation, subject to the approval of the  commissioner, or shall be made at the\ndirection of the commissioner.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=30094","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:58Z","sha256":"d5a39fc4ad98c0f36dd37598b1bcfd40b0572294985147853665a6e7b2d2f892","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.41-030","next":"us-ky/krs-304.41-050"},"notice":"GroundRules: Original legal text. Not legal advice."}