Summary of Original Version

Create a new section of KRS Chapter 299 to establish procedures and authorization by the commissioner of insurance for the voluntary dissolution of certain companies transacting the business of insurance upon the cooperative or assessment plan; amend KRS 304.50-010 to prohibit the commissioner from authorizing additional workers' compensation self-insured groups on and after the effective date of the Act; amend KRS 342.350 to conform.

Summary of Amendment: Senate Committee Substitute 1

Summary Retain original provisions; delay effective date of prohibition on authorization of additional workers' compensation self-insured groups; EFFECTIVE, in part, July 15, 2027.

Statutes affected:
Introduced: 342.350
Senate Committee Substitute 1: 342.350
Current: 342.350