{"data":{"id":"us-ky/krs-342.803","jurisdiction":"us-ky","citation":"KRS 342.803","heading":"Kentucky Employers' Mutual Insurance Authority.","body":"(1) The Kentucky Employers' Mutual Insurance Authority is created as a nonprofit,\nindependent, self-supporting de jure municipal corporation and political subdivision\nof the Commonwealth which shall be a public body corporate and politic to insure\nemployers in  the Commonwealth for workers' compensation, employers' liability\ninsurance and coverage required by the Federal Coal Mine Health \u0026 Safety Act, the\nJones Act, and the Longshore and Harbor Workers Act incidental to and written in\nconjunction with workers' c ompensation. The General Assembly hereby recognizes\nthat the operation of a competitive state fund is a unique activity for state\ngovernment and that a corporate structure will best enable the authority to be\nmanaged in an entrepreneurial and business -like manner. The authority shall\nfunction in a manner similar to a governing board for a domestic mutual insurance\ncompany and shall be subject to the provisions of KRS Chapter 304 applicable to\ndomestic mutual insurance companies, unless otherwise provided or  exempted in\nKRS 342.801 to 342.843.\n(2) Except for initial funding for start-up, the authority shall be entirely self-supporting.\n(3) The authority or its liabilities shall not be deemed to constitute a debt or a liability\nof the Commonwealth or a pledge of the faith and credit of the Commonwealth.\n(4) The authority shall provide coverage and issue policies as an insurer in the\nvoluntary market and as an insurer of last resort.","path":["KRS Chapter 342"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=32561","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:32Z","sha256":"6cfb002808cfdba4db423ef64ec6288529fa919d951b3fab992cc438eda7b304","source_id":"us-ky","stale":false,"prev":"us-ky/krs-342.801","next":"us-ky/krs-342.805"},"notice":"GroundRules: Original legal text. Not legal advice."}