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Form a Business

Purpose of subtitle

KRS 304.42-020
in effect
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304.42-020. Purpose of subtitle The purpose of this subtitle is to protect the persons specified in KRS 304.42-030(1), subject to certain limitations, against failure in the performance of contractual obligations under life, health, and annuity policies, plans, or contracts specified in KRS 304.42- 030(2) because of the impairment or insolvency of the member insurer that issued the policies, plans, or contracts. To provide this protection: (1) An association of member insurers is created to pay benefits and to continue coverages as limited by this subtitle; and (2) Member insurers of the association are subject to assessment to provide funds to carry out the purpose of this subtitle. Effective: June 27, 2019 History: Amended 2019 Ky. Acts ch. 70, sec. 1, effective June 27, 2019. -- Amended 1998 Ky. Acts ch. 537, sec. 1, effective July 15, 1998. -- Created 1978 Ky. Acts ch. 282, sec. 2, effective June 17, 1978.
Source: Kentucky Legislative Research Commission (legislature.ky.gov)URL: https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48760Fetched: 10/20/2026

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