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 Commonweal th 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 t o 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 co nsistent with the provisions of this subtitle. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1459, effective July 15, 2010. -- Amended 1988 Ky. Acts ch. 225, sec. 1, effective July 15, 1988. -- Amended 1986 Ky. Acts ch. 314, sec. 1, effective July 15, 1986. -- Amended 1980 Ky. Acts ch. 359, sec. , effective July 15, 2010. -- Amended 1988 Ky. Acts ch. 225, sec. 1, effective July 15, 1988. -- Amended 1986 Ky. Acts ch. 314, sec. 1, effective July 15, 1986. -- Amended 1980 Ky. Acts ch. 359, sec. 1, effective July 15, 1980. -- Created 1972 Ky. Acts ch. 65, sec. 1, effective June 16, 1972.
Kentucky Legal Code