Kentucky legislation · 2026 Regular Session
Kentucky HB265: AN ACT relating to regulatory authorizations by the commissioner of insurance.
Status: Signed into law, April 10, 2026
Create a new section of KRS Chapter 299 to establish procedures and authorization by the commissioner of insurance for the voluntary dissolution of certain companies transacting the business of insurance upon the cooperative or assessment plan; amend KRS 304.50-010 to prohibit the commissioner from authorizing additional workers' compensation self-insured groups on and after the effective date of the Act; amend KRS 342.350 to conform.
What the bill says
An act relating to regulatory authorizations by the commissioner of insurance.
From the engrossed text:
AN ACT relating to regulatory authorizations by the commissioner of insurance. Be it enacted by the General Assembly of the Commonwealth of Kentucky: SECTION 1. A NEW SECTION OF KRS CHAPTER 299 IS CREATED TO READ AS FOLLOWS: (1) As used in this section, "company": (a) Means an entity organized or 2. Any law of this state for the purpose of transacting the business of insurance upon the cooperative or assessment plan, as set forth in KRS 299.020; and (b) Includes a company as defined in KRS 299.010(3) or (4). (2) A solvent company that is not the subject of a delinquency proceeding under Subtitle 33 of KRS Chapter 304 may voluntarily dissolve in accordance with the requirements of this section. (3) (a) A company seeking to voluntarily dissolve under this section shall dissolve under a dissolution plan 2. Provides for: a. The disposition, by bulk reinsurance or other lawful procedure, of all insurance in force with the company; and b. Full discharge of all obligations of the company; 3. Designates or provides for one (1) or more trustees to conduct and administer the settlement of the company's affairs; 4. Is authorized by its board of directors; 5. Is approved or adopted by policyholders or members by vote of not less than two-third (2/3) of the policyholders or members voting …
Sponsors
- Michael Meredith (R, HD-019) · primary sponsor
- Erika Hancock (D, HD-057)
- Daniel Grossberg (D, HD-030)
Latest actions
- : signed by Governor (Acts Ch. 84)
- : delivered to Governor
- : enrolled, signed by President of the Senate
- : enrolled, signed by Speaker of the House
- : passed 94-0
- : House concurred in Committee Substitute (1)
- : posted for passage for concurrence in Senate Committee Substitute (1)
- : to Rules (H)
- : received in House
- : 3rd reading, passed 37-0 with Committee Substitute (1)
Votes
- House: Final Passage RCS# 369 (March 31, 2026): 94 yea, 0 nay, passed
- Senate: Floor Vote (SCS 1) RSN# 3971 (March 20, 2026): 37 yea, 0 nay, passed
- House: Pass RCS# 13 (January 20, 2026): 95 yea, 0 nay, passed
Subjects: State Agencies, Licensing, Local Mandate, Insurance, Cooperatives, Workers Compensation
Common questions
- What is HB265?
- HB265 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to regulatory authorizations by the commissioner of insurance.
- What does HB265 do?
- In its own words: An act relating to regulatory authorizations by the commissioner of insurance.
- What is the status of HB265?
- Signed into law as of April 10, 2026. Latest action: signed by Governor (Acts Ch. 84) (April 10, 2026).
- Who sponsored HB265?
- Michael Meredith (R, HD-019), with 2 co-sponsors.
- Where is the official record for HB265?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/hb265.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.