HB265 - Voluntary Dissolution Insurance Companies
Summary
Kentucky Governor signed HB265 on April 10, 2026, creating a new section of KRS Chapter 299 establishing voluntary dissolution procedures for insurance companies operating under cooperative or assessment plans, requiring authorization from the commissioner of insurance. The Act also amends KRS 304.50-010 to prohibit the commissioner from authorizing additional workers' compensation self-insured groups on or after the effective date.
What changed
HB265 creates a new section of KRS Chapter 299 establishing procedures and authorization requirements by the commissioner of insurance for the voluntary dissolution of certain companies transacting the business of insurance under cooperative or assessment plans. The Act also amends KRS 304.50-010 to prohibit the commissioner from authorizing additional workers' compensation self-insured groups on or after the effective date, and amends KRS 342.350 to conform.
Affected parties include insurance companies operating under cooperative or assessment plans that may seek voluntary dissolution, as well as entities wishing to form new workers' compensation self-insured groups, which will no longer be authorized by the commissioner. Insurance companies and self-insured group administrators should review their dissolution procedures and group formation plans against the new statutory requirements.
What to do next
- Insurance companies seeking voluntary dissolution must follow new authorization procedures established by the commissioner of insurance
- Insurers should monitor for amendments to KRS 304.50-010 and KRS 342.350 implementing the new dissolution framework
- Companies should verify whether the prohibition on new workers' compensation self-insured groups affects their operations
Archived snapshot
Apr 12, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
ChangeBridge / Kentucky / HB265 Signed by Governor HB265 House Bill Signed by Governor 2026-04-10
AN ACT relating to regulatory authorizations by the commissioner of insurance.
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.
Bill Details
State Kentucky
Session 2026 Regular Session
Chamber House
Official Source apps.legislature.ky.gov/record/26RS/hb265....
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Sponsors
Michael Meredith (Rep - R) Erika Hancock (Rep - D) Daniel Grossberg (Rep - D)
Action History
2026-04-10 H signed by Governor 2026-03-31 H delivered to Governor 2026-03-31 H enrolled, signed by President of the Senate 2026-03-31 H enrolled, signed by Speaker of the House 2026-03-31 H passed 94-0 2026-03-31 H House concurred in Committee Substitute (1) 2026-03-27 H posted for passage for concurrence in Senate Committee Substitute (1) 2026-03-20 H to Rules (H) 2026-03-20 H received in House 2026-03-20 S 3rd reading, passed 37-0 with Committee Substitute (1) 2026-03-19 S passed over and retained in the Consent Orders of the Day 2026-03-18 S posted for passage in the Consent Orders of the Day for Thursday, March 19 2026 2026-03-18 S 2nd reading, to Rules as a consent bill 2026-03-17 S reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1) 2026-03-13 S to Banking & Insurance (S) 2026-01-21 S to Committee on Committees (S) 2026-01-21 S received in Senate 2026-01-20 H 3rd reading, passed 95-0 2026-01-16 H posted for passage in the Regular Orders of the Day for Tuesday, January 20, 2026 2026-01-15 H 2nd reading, to Rules 2026-01-14 H reported favorably, 1st reading, to Calendar 2026-01-12 H to Banking & Insurance (H) 2026-01-08 H to Committee on Committees (H) 2026-01-08 H introduced in House
Votes
2026-01-20 House: Third Reading RCS# 13 Yea: 95 Nay: 0 2026-01-20 House: Veto Override RCS# 13 Yea: 95 Nay: 0 2026-03-20 Senate: Third Reading RSN# 3971 Yea: 37 Nay: 0 2026-03-31 House: Veto Override RCS# 369 Yea: 94 Nay: 0
Committee Referrals
2026-01-08 H Committee On Committees 2026-01-12 H Banking and Insurance 2026-01-15 H Rules 2026-01-21 S Committee on Committees 2026-03-13 S Banking and Insurance 2026-03-18 S Rules 2026-03-20 H Rules
Amendments
0000-00-00 Senate Committee Substitute 0000-00-00 Senate Committee Substitute
Bill Text Versions
0000-00-00 Introduced 0000-00-00 Engrossed 0000-00-00 Enrolled
Subjects
Cooperatives Insurance Licensing State Agencies Workers Compensation Local Mandate Legislative data powered by LegiScan (CC BY 4.0)
Named provisions
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