342.819 Dividends. On an annual basis, the board may declare a dividend in accordance with Subtitle 24 of KRS Chapter 304, and distribute the same in the form of premium discounts, dividends, or a combination of dividends and discounts, at its discretion, if: (1) The funding obtained pursuant to KRS 342.829 has been repaid in full; (2) An independent actuarial report of the prior year's operations has been completed and reviewed by the board; (3) The authority has met all expenses for administration and claims for the prior y ear; and (4) Adequate reserves exist to pay all claims. Effective: April 4, 1994 History: Created 1994 Ky. Acts ch. 181, Part 12, sec. 48, effective April 4, 1994.
Kentucky Legal Code