(1) The corporation is hereby authorized to accept and expend such moneys as may be appropriated by the General Assembly or such moneys as may be received from any source, including income from the corporation‘s operations, for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation of the corporation and the lottery.
(2) After the transfer of any appropriated funds provided by subsection (1) of this section, the corporation shall be self sustaining and self funded and moneys in the state general fund shall not be used or obligated to pay the expenses of the corporation or prizes of the lottery and no claim for the payment of an expense of the lottery or prizes of the lottery shall be made against any moneys other than moneys credited to the corporate operating account established by KRS § 154A.130.
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Terms Used In Kentucky Statutes 154A.140

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means the Kentucky Lottery Corporation. See Kentucky Statutes 154A.010
  • Lottery: means any game of chance approved by the corporation and operated pursuant to this chapter, except for games prohibited by the General Assembly as provided for in KRS §. See Kentucky Statutes 154A.010
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010

Effective: December 15, 1988
History: Created 1988 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 21, effective December 15,
1988.

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