Kentucky Statutes 341.296 – Investment of administration fund
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Such money in the unemployment compensation administration fund collected under KRS § 341.295, shall be invested by the State Treasurer in bonds and other interest-bearing obligations of the United States of America, in such amounts, and in such of the securities herein authorized, as the secretary may in his discretion prescribe and direct; provided, however, such fund as may be accumulated under the above section may be invested by the Sinking Fund Commission, upon the request of the secretary, in revenue bonds issued by the State Property and Buildings Commission. The State Treasurer shall dispose of securities or other property belonging to such fund only under the direction of the secretary.
Effective: July 15, 1980
History: Amended 1980 Ky. Acts ch. 188, sec. 271, effective July 15, 1980. — Amended 1974 Ky. Acts ch. 74, Art. VI, sec. 107(21). — Amended 1950 Ky. Acts ch.
206, sec. 1. — Created 1948 Ky. Acts ch. 216, sec. 20.
Effective: July 15, 1980
Terms Used In Kentucky Statutes 341.296
- Commission: means the Unemployment Insurance Commission. See Kentucky Statutes 341.005
- Fund: means the unemployment insurance fund established by KRS §. See Kentucky Statutes 341.020
- Secretary: means the secretary of the Education and Labor Cabinet or his or her duly authorized representative. See Kentucky Statutes 341.005
- State: includes , in addition to the states of the United States of America, the
District of Columbia, Puerto Rico, the Dominion of Canada, and Virgin Islands. See Kentucky Statutes 341.020
History: Amended 1980 Ky. Acts ch. 188, sec. 271, effective July 15, 1980. — Amended 1974 Ky. Acts ch. 74, Art. VI, sec. 107(21). — Amended 1950 Ky. Acts ch.
206, sec. 1. — Created 1948 Ky. Acts ch. 216, sec. 20.