Form 147 Workers' Compensation Group Security Deposit Held Under Safekeeping - Kentucky

What Is Form 147?

This is a legal form that was released by the Kentucky Department of Insurance - a government authority operating within Kentucky. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 147?
A: Form 147 is a document related to workers' compensation in Kentucky.

Q: What is Workers' Compensation?
A: Workers' Compensation is a form of insurance that provides medical benefits and wage replacement to employees who are injured or become ill on the job.

Q: What is a Group Security Deposit?
A: A Group Security Deposit is a sum of money held by the state or another entity to ensure that an employer will fulfill their obligations under the Workers' Compensation program.

Q: What is Safekeeping?
A: Safekeeping is the act of holding something securely in custody, often by a trusted third party, to prevent loss or damage.

Q: Who holds the Group Security Deposit under Safekeeping?
A: The Group Security Deposit is held under safekeeping by the state or another designated entity in Kentucky.

Q: What is the purpose of holding the Group Security Deposit?
A: The Group Security Deposit is held to ensure that funds are available to cover any workers' compensation claims or obligations that may arise.

Q: Why is Form 147 required?
A: Form 147 is required to document the details of the Group Security Deposit held under safekeeping.

Q: Who needs to fill out Form 147?
A: Employers who have a Group Security Deposit held under safekeeping in Kentucky need to fill out Form 147.