Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.48-160.Officers, directors, or employees not to have interest in administrator; exception

(1) Except as provided in subsection (2) of this section, no service company or its employees, officers, or directors shall be an employee, officer, or director of, or have either a direct or indirect interest in, an administrator. No administrator or its employees, officers, or directors shall be an employee, officer, or director of, or have either a direct or indirect financial interest in, a service company.

(2) Liability self-insurance groups formed by public entities may create public administrator and service companies to administer or service the group's self-insurance program. These administrator and service companies may have employees, directors, or officers in common if the board of directors for the public liability self-insurance group has direct authority over these public companies and the employees of the companies are public employees.