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Current as of January 01, 2024 | Updated by FindLaw Staff
As used in KRS 342.900 to 342.912, unless the context requires otherwise:
(1) “Insolvent self-insurer” means either an individual self-insured employer or a self-insured group who has failed to pay compensation as a result of a declaration of bankruptcy or insolvency by a court of competent jurisdiction, and whose security deposit has been called by the commissioner, or who has failed to provide compensation and who has been issued a certificate of default by the commissioner and whose security deposit has been called by the commissioner;
(2) “Member” means a self-insured employer or self-insured group that participates in a guaranty fund created pursuant to KRS 342.900 to 342.912;
(3) “Guaranty fund” means one (1) of the three (3) guaranty funds established pursuant to KRS 342.900 to 342.912;
(4) “Directors” means the board of directors of a guaranty fund; and
(5) “Certificate of default” means a notice issued by the commissioner based upon a finding that a self-insured employer or self-insured group has failed to pay compensation required by this chapter.
Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXVII. Labor and Human Rights § 342.902.Definitions for KRS 342.900 to 342.912 - last updated January 01, 2024 | https://codes.findlaw.com/ky/title-xxvii-labor-and-human-rights/ky-rev-st-sect-342-902/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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