Ky. Rev. Stat. § 304.42-020

Current through 2024 Ky. Acts ch. 225

Section 304.42-020 - Purpose of subtitle

The purpose of this subtitle is to protect the persons specified in KRS 304.42-030(1), subject to certain limitations, against failure in the performance of contractual obligations under life, health, and annuity policies, plans, or contracts specified in KRS 304.42-030(2) because of the impairment or insolvency of the member insurer that issued the policies, plans, or contracts. To provide this protection:

(1) An association of member insurers is created to pay benefits and to continue coverages as limited by this subtitle; and

(2) Member insurers of the association are subject to assessment to provide funds to carry out the purpose of this subtitle.

KRS 304.42-020

Amended by 2019 Ky. Acts ch. 70,§ 1, eff. 6/26/2019.

Effective:7/15/1998
Amended 1998, Ky. Acts ch. 537, sec. 1, effective7/15/1998. -- Created 1978 Ky. Acts ch. 282, sec. 2, effective 6/17/1978.