{"data":{"id":"us-ky/krs-304.44-020","jurisdiction":"us-ky","citation":"KRS 304.44-020","heading":"Mine subsidence insurance fund established.","body":"(1) There is hereby established a fund to be known as the \"Mine Subsidence Insurance\nfund.\" The fund shall be operated pursuant to this subtitle. The commissioner of the\ndepartment shall determine how the fund shall be administered. In the discretion of\nthe commissioner, the fund may be administered by the Reinsurance Association,\nestablished by KRS 304.35-010, or by the department.\n(2) The administrator shall make available through the fund insurance coverage against\nlosses arising out of or due to mine subsid ence within this state as to any structure\nwithin this state.\n(3) The moneys in the fund shall be derived from premiums for subsidence insurance\ncollected pursuant to this subtitle.\n(4) Premiums for subsidence insurance shall be established by the administ rator which\nshall periodically review the premium level and the experience data applicable to\noperation of the fund and make changes as required.\n(5) Premiums shall be established at a rate or within a schedule of rates sufficient to\nsatisfy all foreseeabl e claims upon the fund during the period of coverage, giving\ndue consideration to relevant loss or claim experience or trends, to cover normal\ncosts of operation of the fund by the administrator and provide a reasonable reserve\nfund for unexpected continge ncies. Deviation from the premium set by the\nadministrator shall not be allowed.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=30141","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:58Z","sha256":"34efda443b4979ef9f38febb8980b72c7a52b5d22dfd34be9d651f231981ac71","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.44-010","next":"us-ky/krs-304.44-030"},"notice":"GroundRules: Original legal text. Not legal advice."}