Kentucky Statutes 65.314 – Adoption of procurement, personnel, and compensation policies and code of ethics
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By August 1, 2010, the governing body of a public entity and the governing body of any affiliated organization of the public entity shall each:
(1) Adopt a procurement policy consistent with KRS § 45A.345 to KRS § 45A.460 that includes, notwithstanding KRS § 45A.380(3) and (10), a transparent, competitive, selection process for licensed professional services, bond underwriting and bond counsel services, and financial and insurance products and services;
(2) Approve a detailed, equitable personnel and compensation policy;
(3) Approve contracts only in accordance with its bylaws and procurement policy;
(4) Establish an independent process to receive, analyze, investigate and resolve concerns relating to the public entity and its affiliated organizations, including alleged violations of the code of ethics required by subsection (6) of this section;
(5) Conduct training for its members relating to their legal and fiduciary responsibilities; and
(6) Adopt a code of ethics that shall include:
(a) Standards of conduct for its members and its officers and employees;
(b) Requirements for creation and annual filing of financial disclosure statements for its members and its officers and management personnel; and
(c) A policy on the employment of:
1. Individuals related to its members; and
2. Individuals related to its officers and employees.
Effective: July 15, 2010
History: Created 2010 Ky. Acts ch. 76, sec. 4, effective July 15, 2010.
(1) Adopt a procurement policy consistent with KRS § 45A.345 to KRS § 45A.460 that includes, notwithstanding KRS § 45A.380(3) and (10), a transparent, competitive, selection process for licensed professional services, bond underwriting and bond counsel services, and financial and insurance products and services;
Terms Used In Kentucky Statutes 65.314
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fiduciary: A trustee, executor, or administrator.
(2) Approve a detailed, equitable personnel and compensation policy;
(3) Approve contracts only in accordance with its bylaws and procurement policy;
(4) Establish an independent process to receive, analyze, investigate and resolve concerns relating to the public entity and its affiliated organizations, including alleged violations of the code of ethics required by subsection (6) of this section;
(5) Conduct training for its members relating to their legal and fiduciary responsibilities; and
(6) Adopt a code of ethics that shall include:
(a) Standards of conduct for its members and its officers and employees;
(b) Requirements for creation and annual filing of financial disclosure statements for its members and its officers and management personnel; and
(c) A policy on the employment of:
1. Individuals related to its members; and
2. Individuals related to its officers and employees.
Effective: July 15, 2010
History: Created 2010 Ky. Acts ch. 76, sec. 4, effective July 15, 2010.