304.50 -125 Discounting authorized -- Requirements -- Approval by commissioner. (1) In the computation of the retained liabilities of the self -insured group, reserves for claims or projected reserves for claims may be discounted for their present value if: (a) The discounting is based upon the computation of a qualified actuary; and (b) The computations and supporting documentation are filed annually in writing with the commissioner. (2) Discounting shall be approved by the commissioner unless: (a) The actuary is found to be unqualified by the commissioner; or (b) The computations and supp orting documentation presented by the actuary are rejected based on the opinion of the commissioner's qualified actuary. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1643, effective July 15, 2010. -- Created 2005 Ky. Acts ch. 7, sec . 25, effective March 1, 2005.
Kentucky Legal Code