There is created a nonprofit unincorporated legal entity to be known as the Kentucky Insurance Guaranty Association. All insurers defined as member insurers in KRS 304.36- 050 shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under KRS 304.36-090 and shall exercise its powers through a board of directors established under KRS 304.36-070.
KRS 304.36-060
Creation of the association
Known as the Kentucky Insurance Guaranty Association Act
The act spans §§ 304.36-010 to 304.36-170 (18 sections).
Applied in 2 court decisions — leading case Commonwealth, Natural Resources & Environmental Protection Cabinet v. Kentucky Insurance Guaranty Ass'n (1997)
Most recently applied in Commonwealth, Natural Resources & Environmental Protection Cabinet v. Kentucky Insurance Guaranty Ass'n (May 1997)
Effective: June 16, 1972 History: Created 1972 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.