342.3 45 Certificate of individual self -insurance -- Revocation -- New certificate -- Effect of revocation. (1) Whenever an employer has complied with the provisions of KRS 342.340 relating to individual self -insurance, the commissioner shall issue to the empl oyer a certificate which shall remain in force for a period fixed by the commissioner. But the commissioner may, upon at least ten (10) days' notice and a hearing to the employer, revoke or suspend the certificate upon satisfactory evidence that revocation or suspension is appropriate. If the commissioner revokes a certificate, the commissioner may thereafter, upon petition of the employer and a hearing, grant a new certificate, but the employer shall not, as a matter of right, be entitled to a hearing for this purpose sooner than six (6) months following an order of the commissioner revoking the employer's certificate. (2) A self -insurer whose certificate to self -insure has been revoked is not relieved of its obligations for compensation to its employees fo r work -related injuries or occupational diseases that occur during the period of self -insurance. elf -insure has been revoked is not relieved of its obligations for compensation to its employees fo r work -related injuries or occupational diseases that occur during the period of self -insurance. The required security shall be maintained with the commissioner or under the commissioner's control until each claim for workers' compensation benefits has bee n paid, been settled, or lapsed under this chapter. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1822, effective July 15, 2010. -- Amended 2005 Ky. Acts ch. 7, sec. 43, effective March 1, 2005. -- Amended 1994 Ky. Acts ch. 181, Part 11, sec. 37, effective April 4, 1994. -- Repealed in part 1946 Ky. Acts ch. 100, sec. 15, effective October 1, 1947. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4947.
Kentucky Legal Code