Section 342.902 - Definitions for KRS 342.900 to 342.912As used in KRS 342.900 to 342.912, unless the context requires otherwise:
(1) "Insolvent self-insurer" means either an individual self-insured employer or a self-insured group who has failed to pay compensation as a result of a declaration of bankruptcy or insolvency by a court of competent jurisdiction, and whose security deposit has been called by the commissioner, or who has failed to provide compensation and who has been issued a certificate of default by the commissioner and whose security deposit has been called by the commissioner;(2) "Member" means a self-insured employer or self-insured group that participates in a guaranty fund created pursuant to KRS 342.900 to 342.912;(3) "Guaranty fund" means one (1) of the three (3) guaranty funds established pursuant to KRS 342.900 to 342.912;(4) "Directors" means the board of directors of a guaranty fund; and(5) "Certificate of default" means a notice issued by the commissioner based upon a finding that a self-insured employer or self-insured group has failed to pay compensation required by this chapter.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1857, effective7/15/2010. --Amended 2005, Ky. Acts ch. 7, sec. 47, effective 3/1/2005. -- Created 1996, (1st Extra. Sess.) Ky. Acts ch. 1, sec. 21, effective 12/12/1996.