187.600 Self-insurance. - Kentucky Statutes

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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
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
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
conducted in accordance with KRS Chapter 13B. Failure to pay any judgment
within thirty (30) days after the judgment becomes final constitutes a reasonable
ground for the cancellation of a certificate of self-insurance. Effective: July 15, 1996
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