{"data":{"id":"us-ky/krs-342.1224","jurisdiction":"us-ky","citation":"KRS 342.1224","heading":"Board of directors of funding commission.","body":"(1) The commission shall be governed by a board of directors consisting of seven\n(7) members.  The seven (7) members  shall include the secretary of the\nEducation and Labor Cabinet or a designee, the secretary of the Cabinet for\nEconomic  Development or a designee, the secretary of the Finance and\nAdministration Cabinet or a designee, and four (4) members  who  shall be\nappointed by the Governor.\n(2) The four (4) appointed members  shall include:\n(a) One  (1) member,  selected from a list of three (3) submitted by the\nsecretary of the Education and Labor Cabinet, who shall represent labor;\n(b) One  (1) member,  selected from a list of three (3) submitted by the\nsecretary for economic development, who  shall represent employers;\nprovided, however, that these three (3) members  shall represent\nemployers  who  purchase workers' compensation coverage for their\nemployees  from insurance companies  writing workers' compensation\ninsurance in the Commonwealth;\n(c) One  (1) member,  selected from a list of three (3) submitted by the\ninsurance advisory organization having jurisdiction over Kentucky, who\nshall represent insurance companies  writing workers' compensation\ninsurance in the Commonwealth; and\n(d) One  (1) member,  selected from a list of three (3) submitted by the\nassociations representing self-insured employers in the Commonwealth.\n(3) The  members  of the board of directors shall serve a term of four (4) years,\nexcept that the initial terms of the members  shall be staggered as follows:\n(a) The  initial member  appointed by the Governor to represent labor shall\nserve a term of one (1) year. Thereafter, such member  shall serve a term\nof four (4) years;\n(b) The  initial member  appointed by the Governor to represent employers\nshall serve a term of two (2) years. Thereafter, such member  shall serve a\nterm of four (4) years;\n(c) The  initial member  appointed by the Governor to represent insurance\ncompanies shall serve a term of four (4) years. Thereafter, such member\nshall serve a term of four (4) years; and\n(d) The  initial member  appointed by the Governor to represent self-insured\nemployers shall serve a term of three (3) years. Thereafter, such member\nshall serve a term of four (4) years.\n(4) The  board of directors shall annually elect from among  its members  a\nchairman, a vice chairman, and a secretary-treasurer. The board of directors\nmay  also elect or appoint, and prescribe the duties of, other officers as the\nboard of directors deems necessary or advisable.\n(5) The  board of directors shall appoint an executive director to administer,\nmanage,  and direct the affairs and business of the commission, and other staff\npersons to carry out the affairs and business of the commission, subject in\neach instance to the policies, control, and directions of the board of directors.\nThe board of directors shall fix the compensation of all such persons and shall\npay such compensation out of the funds of the commission.\n(6) Notwithstanding any other law, the Governor, pursuant to an executive order,\nmay  cause the employees of the commission to be eligible to participate in the\nKentucky Retirement System and the Kentucky Public Employees Deferred\nCompensation System.\n(7) A majority of the board of directors of the commission shall constitute a quorum\nfor the purposes of conducting its business and exercising its powers and for\nall other purposes. The majority shall be determined by excluding any existing\nvacancies from the total number of directors.\n(8) The  board of directors of the Kentucky Workers' Compensation  Funding\nCommission  are hereby determined to be  officers and  agents of the\nCommonwealth  of Kentucky and, as such, shall enjoy the same  immunities\nfrom suit for the performance of their official acts as do other officers of the\nCommonwealth  of Kentucky.","path":["KRS Chapter 342"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=52464","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:30Z","sha256":"a4b8d66833055aee9c6c23d398ac8ae44220c7001b1f73c044a40669e7f292c5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-342.1223","next":"us-ky/krs-342.1225"},"notice":"GroundRules: Original legal text. Not legal advice."}