Section 304.35-010 - Definitions - Organization of FAIR plan and reinsurance association(1) As used in this subtitle: (a) "Casualty insurance" has the meaning set forth in KRS 304.5-070; and(b) "Property insurance" has the meaning set forth in KRS 304.5-050.(2) All insurers licensed to write property or casualty insurance in this Commonwealth on a direct basis shall, subject to approval and regulation by the commissioner of insurance, establish and maintain a "FAIR" (fair access to insurance requirements) plan and establish and maintain a reinsurance association and formulate and from time to time amend the plan and articles of association and rules and regulations in connection therewith, and assess and share on a fair and equitable basis all expenses, income, and losses incident to such "FAIR" plan and reinsurance association in a manner consistent with the provisions of this subtitle.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1459, effective7/15/2010. --Amended 1988 Ky. Acts ch. 225, sec. 1, effective 7/15/1988. -- Amended 1986 Ky. Acts ch. 314, sec. 1, effective 7/15/1986. -- Amended 1980 Ky. Acts ch. 359, sec. 1, effective 7/15/1980. -- Created 1972 Ky. Acts ch. 65, sec. 1, effective 6/16/1972.