SB 357 (BR 1867) - G. Johnson
AN ACT relating to motor vehicle insurance.
Create new sections of Subtitle 39 of KRS Chapter 304 to establish the Kentuckians Insuring Kentuckians Association, an association to assist those who cannot afford to purchase the required motor vehicle security; authorize the Department of Insurance to be in charge of the association and to be assisted by an advisory board appointed by the Governor; establish that the association will be funded by Kentuckians currently purchasing motor vehicle security though a fee that will be attached to premiums; require the association to contract with an insurer administrator to administer the coverage available through the association; establish eligibility requirements; and authorize the commissioner to promulgate administrative regulations necessary to effectuate the Act.
Feb 29-introduced in Senate
Mar 2-to Banking and Insurance (S)