304.17A-810 Conditions for issuance of certificate of filing. Upon receipt of an application for a certificate of filing, the commissioner shall issue or deny the same. A certificate of filing shall be issued only if the commissioner finds that the applicant has complied with KRS 304.17A-808, has paid the application fee, and the commissioner is satisfied that the following conditions are met: (1) The persons responsible for the conduct of the affairs of the self-insured employer- organized association group are competent, trustworthy, and possess good reputation; and (2) The self-insured employer-organized association group is financially responsible and may reasonably be expected to meet its obligations to participants and prospective participants. In making this determination, the commissioner may consider: (a) The adequacy of working capital; (b) Any agreement with an insurer, a government, or any other organization for insuring the payment of health claims or the provision for automatic applicability of an alternative coverage in the event of discontinuance of the self-insurance group; and (c) Compliance with KRS 304.17A-812, as a guarantee that the obligations will be duly performed. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1260, effective July 15, 2010. -- Created 2003 Ky. Acts ch. 78, sec. 6, effective June 24, 2003.
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