Find Legal Information

187.600 Self-insurance.

Download pdf

187.600 Self-insurance. (1) Any person in whose name more than twenty-five (25) motor vehicles are registered may qualify as a self-insurer by obtaining a certificate of self-insurance issued by <br>the cabinet as provided in subsection (2) of this section. (2) The cabinet may, in its discretion, upon the application of such a person, issue a certificate of self-insurance when it is satisfied that the person is possessed and will <br>continue to be possessed of ability to pay judgments obtained against the person. (3) The cabinet may upon reasonable grounds cancel a certificate of self-insurance subject to the certificate holder being afforded the opportunity for a hearing to be <br>conducted in accordance with KRS Chapter 13B. Failure to pay any judgment <br>within thirty (30) days after the judgment becomes final constitutes a reasonable <br>ground for the cancellation of a certificate of self-insurance. Effective: July 15, 1996 <br>History: Amended 1996 Ky. Acts ch. 318, sec. 74, effective July 15, 1996. -- Created 1946 Ky. Acts ch. 118, sec. 34, effective January 1, 1947