Summary of Original Version

Create a new section of KRS 164A.555 to 164A.630 to permit governing boards of public supported postsecondary educational institutions to elect to terminate the institution's coverage through the state fire and tornado insurance fund and obtain the coverage from an authorized insurer or through a self-insurance pool; establish requirements for terminating and resuming coverage through the state fire and tornado insurance fund; establish requirements for insurance obtained by an institution from an authorized insurer or a self-insurance pool; amend KRS 164A.575 to conform.

Summary of Amendment: Senate Committee Substitute 1

Summary Retain original provisions, except require institutions to have an annual inspection, pay a fee for the inspection, and provide notices prior to resuming coverage under the state fire and tornado insurance fund.

Statutes affected:
Introduced: 164A.575
Acts Chapter 50: 164A.575
Senate Committee Substitute 1: 164A.575
Current/Final: 164A.575
Current: 164A.575