KRS § 342.1224 — KY Code / Title XXVII / Chapter 342 / Section 342.1224
342.1224 Board of directors of funding commission
Status: in_force

342.1224 Board of directors of funding commission.

(1) The commission shall be governed by a board of directors consisting of seven

(7) members. The seven (7) members shall include the secretary of the

Education and Labor Cabinet or a designee, the secretary of the Cabinet for

Economic Development or a designee, the secretary of the Finance and

Administration Cabinet or a designee, and four (4) members who shall be

appointed by the Governor.

(2) The four (4) appointed members shall include:

(a) One (1) member, selected from a list of three (3) submitted by the

secretary of the Education and Labor Cabinet, who shall represent labor;

(b) One (1) member, selected from a list of three (3) submitted by the

secretary for economic development, who shall represent employers;

provided, however, that these three (3) members shall represent

employers who purchase workers' compensation coverage for their

employees from insurance companies writing workers' compensation

insurance in the Commonwealth;

(c) One (1) member, selected from a list of three (3) submitted by the

insurance advisory organization having jurisdiction over Kentucky, who

shall represent insurance companies writing workers' compensation

insurance in the Commonwealth; and

(d) One (1) member, selected from a list of three (3) submitted by the

associations representing self-insured employers in the Commonwealth.

(3) The members of the board of directors shall serve a term of four (4) years,

except that the initial terms of the members shall be staggered as follows:

(a) The initial member appointed by the Governor to represent labor shall

serve a term of one (1) year. Thereafter, such member shall serve a term

of four (4) years;

(b) The initial member appointed by the Governor to represent employers

shall serve a term of two (2) years. Thereafter, such member shall serve a

term of four (4) years;

(c) The initial member appointed by the Governor to represent insurance

companies shall serve a term of four (4) years. Thereafter, such member

shall serve a term of four (4) years; and

(d) The initial member appointed by the Governor to represent self-insured

employers shall serve a term of three (3) years. Thereafter, such member

shall serve a term of four (4) years.

(4) The board of directors shall annually elect from among its members a

chairman, a vice chairman, and a secretary-treasurer. The board of directors

may also elect or appoint, and prescribe the duties of, other officers as the

board of directors deems necessary or advisable.

(5) The board of directors shall appoint an executive director to administer,

manage, and direct the affairs and business of the commission, and other staff

persons to carry out the affairs and business of the commission, subject in

each instance to the policies, control, and directions of the board of directors.

The board of directors shall fix the compensation of all such persons and shall

pay such compensation out of the funds of the commission.

(6) Notwithstanding any other law, the Governor, pursuant to an executive order,

may cause the employees of the commission to be eligible to participate in the

Kentucky Retirement System and the Kentucky Public Employees Deferred

Compensation System.

(7) A majority of the board of directors of the commission shall constitute a quorum

for the purposes of conducting its business and exercising its powers and for

all other purposes. The majority shall be determined by excluding any existing

vacancies from the total number of directors.

(8) The board of directors of the Kentucky Workers' Compensation Funding

Commission are hereby determined to be officers and agents of the

Commonwealth of Kentucky and, as such, shall enjoy the same immunities

from suit for the performance of their official acts as do other officers of the

Commonwealth of Kentucky.