Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.50-010.Qualification as workers' compensation self-insured group; power to contract, sue, and be sued; commissioner to promulgate administrative regulations; Governor may assign regulatory authority; limitation on application of KRS Chapter 304

(1) The commissioner may authorize twenty (20) or more employers with common interests or membership in a bona fide trade association, or two (2) or more governmental entities, to enter into agreements to pool their liabilities under KRS Chapter 342 for the purpose of qualifying as a workers' compensation self-insured group under this subtitle and KRS 342.350. Any heterogeneous self-insured group so authorized may contract and may sue and be sued in the name adopted by the group.

(2) The commissioner shall promulgate administrative regulations as necessary to govern admission, certification, and regulation of workers' compensation self-insured groups as authorized by this section and KRS 342.350. The commissioner shall take any and all action necessary to effectuate the provisions of this subtitle. The commissioner shall be responsible for maintaining records obtained or prepared in association with this oversight.

(3) The Governor may assign the regulatory authority under this subtitle to another board or agency pursuant to KRS 12.028.

(4) Except as specifically provided in this subtitle, no other provision of this chapter shall apply to a workers' compensation self-insured group.