{"data":{"id":"us-ky/krs-304.50-035","jurisdiction":"us-ky","citation":"KRS 304.50-035","heading":"Certificate of filing of self-insured group -- Conditions for issuance.","body":"Certification as a workers' compensation self -insured group shall be granted only if the\ncommissioner finds that the applicant has complied with the provisions of this subtitle,\npaid the application fee, and met the following conditions:\n(1) All persons responsible for the conduct of the affairs of the workers' compensation\nself-insured group are financially stable and experienced in the administration of a\nworkers' compensation self-insured group;\n(2) The workers' compensation self -insured group is financi ally responsible and has\ndemonstrated the ability to meet all of its obligations to participants and prospective\nparticipants and injured workers as required in KRS Chapter 342. In making this\ndetermination, the commissioner may consider:\n(a) The adequacy of working capital; and\n(b) The applicant's compliance with all requirements of this subtitle, including but\nnot limited to:\n1. The adequacy of the funding mechanisms;\n2. The existence and adequacy of appropriate excess insurance;\n3. The participating members' financial strength;\n4. The stability of the membership;\n5. The risks of the industry;\n6. The experience of management and all persons responsible for the\nconduct of the affairs of the workers' compensation self -insured group;\nand\n7. An initial and ong oing minimum surplus funds requirement of not less\nthan one million dollars ($1,000,000), except for a workers'\ncompensation self insured group currently operating under a plan\napproved by the commissioner pursuant to KRS 304.50 -135 or a\nremedial action pl an approved by the predecessor regulatory agency\nprior to August 3, 2004.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=30251","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:00Z","sha256":"5fb3d1b0352965965bdfbc65ac8a7ea401d36f0249fd4cc01dce2626c0e618dd","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.50-030","next":"us-ky/krs-304.50-040"},"notice":"GroundRules: Original legal text. Not legal advice."}