806 KAR 13:070. Kentucky automobile insurance plan.

 

      RELATES TO: KRS 304.13-151

      STATUTORY AUTHORITY: KRS 304.2-110

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110 provides that the Executive Director of Insurance may make reasonable rules and administrative regulations necessary for or as an aid to the effectuation of any provision of the Kentucky Insurance Code. Since the Kentucky Automobile Insurance Plan has replaced the Assigned Risk Plan, this change of the administrative regulation brings the administrative regulation in conformity with the name of the plan.

 

      Section 1. As a condition to its authority to transact automobile liability insurance in this state, every insurer writing automobile liability insurance shall be signatory to the Kentucky Automobile Insurance Plan formulated among such insurers, and each insurer's participation therein shall continue as long as its Certificate of Authority remains in effect and an exception to its participation is not granted by the membership and approved by the executive director. (I-13.11; 1 Ky.R. 865; eff. 5-14-75; Am. 9 Ky.R. 45; eff. 9-8-82; TAm eff. 8-9-2007.)