HB 265
AN ACT relating to regulatory authorizations by the commissioner of insurance.
In Plain Language
This bill lets the insurance commissioner set up procedures for insurance companies that operate on a cooperative or assessment plan to voluntarily dissolve. It also prevents the insurance commissioner from approving any new workers' compensation self-insured groups from the time this law takes effect going forward.
Official summary
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.
Sponsor
M. Meredith (Republican-19)
Cosponsors
2 listed
Latest action
signed by Governor (Acts Ch. 84)
Apr 10, 2026
Official source
Action history
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