{"data":{"id":"us-ky/krs-342.920","jurisdiction":"us-ky","citation":"KRS 342.920","heading":"Self -insurance fund for payments to workers' compensation claimants","body":"injured before March 1, 1997.\n(1) The General Assembly finds and declares that there is a need to protect employees\nof workers' compensation self -insured employers who had claims for injuries that\noccurred prior to the creation of the workers' compensation self -insurance guaranty\nfunds under this chapter. The General Assembly further finds that there may be\ninstances in which the security of a former self -insured employer is insufficie nt to\npay the entire workers' compensation claim of an injured employee who was injured\nprior to March 1, 1997.\n(2) There is hereby established the self -insurance fund for the purpose of making\npayments to workers' compensation claimants injured prior to M arch 1, 1997, when\nthe security of a former self-insured employer has been depleted.\n(3) (a) The commissioner shall be:\n1. Authorized to disburse moneys from the fund in accordance with written\norders of an administrative law judge or the board; and\n2. Responsible for administration of the fund and conservation of the assets\nof the fund.\n(b) The commissioner may hire an administrator to oversee the payment of claims\nas provided in this section.\n(4) Notwithstanding any provision of the Kentucky Revised Statu tes to the contrary, all\namounts collected after July 12, 2006, as fines and penalties under KRS 342.267\nand 342.990 shall be paid into the self-insurance fund.\n(5) The self-insurance fund shall be responsible for the payment of compensation when\nthere has been a default in the payment of compensation by a self -insured employer\nand the security held by the Department of Workers' Claims has been completely\ndepleted.\n(6) The Department of Workers' Claims shall appoint an attorney on its staff or special\ncounsel to represent the self -insurance fund in all proceedings brought to enforce\nclaims against or on behalf of the self -insurance fund. Necessary expenses for this\npurpose including salaries or special counsel shall be borne by the self -insurance\nfund.\n(7) Any party seeking reopening under KRS 342.125 or action on a claim involving the\nself-insurance fund shall name the self-insurance fund in its action.\n(8) (a) The Workers' Compensation Funding Commission shall hold, invest, and\nreinvest the funds collected for the self-insurance fund;\n(b) The funding commission shall have the same authority and duties with regard\nto the self-insurance fund as described in KRS 342.1223; and\n(c) The funding commission shall disburse moneys of the fund as requested by\nthe commissioner of the Department of Workers' Claims pursuant to\nsubsection (3) of this section.\n(9) Amounts in the self-insurance fund not expended at the close of the fiscal year shall\nnot lapse but shall be carried forward to the next fiscal year. Any interest earnings\nof the self-insurance fund shall become part of the fund and shall not lapse.","path":["KRS Chapter 342"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=32589","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:33Z","sha256":"cdf37e3c3f45c4270fbfe5e141f6277ba6200c96b1395ab64d55d493beecf7ba","source_id":"us-ky","stale":false,"prev":"us-ky/krs-342.912","next":"us-ky/krs-342.990"},"notice":"GroundRules: Original legal text. Not legal advice."}