342.902 Definitions for KRS 342.900 to 342.912. As 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 fai led to pay compensation required by this chapter. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. ased upon a finding that a self -insured employer or self -insured group has fai led to pay compensation required by this chapter. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1857, effective July 15, 2010. -- Amended 2005 Ky. Acts ch. 7, sec. 47, effective March 1, 2005. -- Created 1996 (1st Extra. Sess.) Ky. A cts ch. 1, sec. 21, effective December 12, 1996.
Kentucky Legal Code