(1) Any domestic stock and mutual insurance company licensed in this state, or any nonprofit hospital, medical-surgical, dental, and health service corporation authorized to do business in this state, may either directly or indirectly through a subsidiary, organize and operate a health maintenance organization under the provisions of this subtitle.
(2) Notwithstanding any provision of KRS Chapter 304, Subtitles 24 and 32 to the contrary, any domestic or stock insurance company licensed in this state or any nonprofit hospital, medical-surgical, dental, and health service corporation authorized to do business in this state, may contract with a health maintenance organization organized under this subtitle to provide protection against the cost of care provided through health maintenance organizations and to provide coverage in the event of the failure of the health maintenance organization to meet its obligations.