Kentucky SB357 establishes assessment limits and procedures for self-insurance guaranty funds.
Kentucky SB357 amends the Kentucky Revised Statutes to set assessment limits and procedures for self-insurance guaranty funds. The bill specifies that assessments for the Kentucky individual self-insurance guaranty fund, coal employers guaranty fund, and group self-insurance guaranty fund cannot exceed one million dollars in total from all members of a single guaranty fund. The maximum annual assessment rates are set at 0.5% for the individual fund, 2% for the coal employers fund, and 0.75% for the group fund.
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