On an annual basis, the board may declare a dividend in accordance with Subtitle 24 of KRS Chapter 304, and distribute the same in the form of premium discounts, dividends, or a combination of dividends and discounts, at its discretion, if: (1) The funding obtained pursuant to KRS 342.829 has been repaid in full; (2) An independent actuarial report of the prior year's operations has been completed and reviewed by the board; (3) The authority has met all expenses for administration and claims for the prior y ear; and (4) Adequate reserves exist to pay all claims.
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