HB758 - Kentucky: Insurance, Labor and Industry, Workers' Compensation

Amend various sections of Subtitle 50 of KRS Chapter 304, relating to workers' compensation self-insured groups to extend application of the subtitle to "bona fide" trade associations; clarify that minimum surplus exemption applies to a group operating under a plan approved by the executive director, or a remedial plan approved prior to August 3, 2004; provide that security deposit requirements are based on an audited rather than certified statement of financial condition; establish requirements for banks or trust companies for security deposits and require approval by the executive director; require a custodial bank or trust company to have capital and surplus of $25 million or more, except that those licensed and regulated in Kentucky shall have $10 million or more; permit the purchase of certificates of deposit from any duly chartered bank; allow investment in equity securities that are actively traded on any registered national securities exchanges; clarify that eligible securities [...]

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