806 KAR 17:531 - Repeal of 806 KAR 17:350
RELATES TO: KRS 304.17B-021(2), 304.17B-023
NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110 authorizes the Commissioner of the Department of Insurance to promulgate regulations to aid in the effectuation of any provision of the Insurance Code, as defined in KRS 304.1-010. KRS 13A.310 requires that an administrative regulation, once adopted, cannot be withdrawn, but shall be repealed if it is desired that it no longer be effective. The intent of this administrative regulation is to repeal 806 KAR 17:350. The Department would like to repeal 806 KAR 17:350 Guaranteed Acceptance Program (GAP) reporting requirements, because this administrative regulation does not fall under the Insurance Code (KRS 304) any longer being that KRS 304.17B was repealed in its entirety.
Notes
STATUTORY AUTHORITY: KRS 304.2-110(1), 304.17B-031(1)
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