Kentucky Statutes 165A.380 – Disposition of fees — Trust and agency account
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(1) All fees collected pursuant to this chapter, except those collected pursuant to KRS
165A.450, shall be deposited in the State Treasury in a trust and agency account of the Kentucky Commission on Proprietary Education and shall be used by the commission to defray the cost of administering and enforcing this chapter.
(2) Notwithstanding KRS § 45.229, any moneys remaining in the account at the end of the fiscal year shall not lapse but shall be carried forward to the next fiscal year.
(3) Any interest earnings of the account shall become a part of the account and shall not lapse.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 76, sec. 8, effective July 12, 2012. — Amended
1982 Ky. Acts ch. 31, sec. 7, effective July 15, 1982 — Created 1976 Ky. Acts ch.
363, sec. 7, effective July 1, 1976.
165A.450, shall be deposited in the State Treasury in a trust and agency account of the Kentucky Commission on Proprietary Education and shall be used by the commission to defray the cost of administering and enforcing this chapter.
Terms Used In Kentucky Statutes 165A.380
- Commission: means the Kentucky Commission on Proprietary Education. See Kentucky Statutes 165A.310
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(2) Notwithstanding KRS § 45.229, any moneys remaining in the account at the end of the fiscal year shall not lapse but shall be carried forward to the next fiscal year.
(3) Any interest earnings of the account shall become a part of the account and shall not lapse.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 76, sec. 8, effective July 12, 2012. — Amended
1982 Ky. Acts ch. 31, sec. 7, effective July 15, 1982 — Created 1976 Ky. Acts ch.
363, sec. 7, effective July 1, 1976.