Bill > HB265

This bill establishes procedures for the voluntary dissolution of certain insurance companies operating on a cooperative or assessment plan, requiring a written dissolution plan approved by the company's board and policyholders, and ultimately by the Commissioner of Insurance, to ensure all obligations are met and assets are properly distributed. Additionally, the bill prohibits the Commissioner of Insurance from authorizing any new workers' compensation self-insured groups, which are entities where employers pool their liabilities for workers' compensation coverage, on or after the bill's effective date, while allowing existing authorized groups to continue operating.

Business and Industry

https://apps.legislature.ky.gov/record/26RS/hb265.html