(1) It is the responsibility of the department, which is charged with the administration of the insurance regulatory trust fund, to make such moneys available for investment as fully as is consistent with the cash requirements of the fund and to authorize investment of such moneys by the agency or agencies of the Commonwealth of Kentucky authorized to make investments and reinvestments for and on behalf of any agency of the Commonwealth of Kentucky.
(2) Monthly, and more often as circumstances require, the department shall notify the investing authority of the amount available for investment, and the moneys shall be invested by the investing authority according to the laws relating to state investments. Such notification shall include the name and number of the fund for which the investments are to be made and the life of the investment if the principal sum is to be required for meeting obligations.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 955, effective July 15, 2010. — Amended
1998 Ky. Acts ch. 213, sec. 2, effective July 15, 1998. — Created 1986 Ky. Acts ch.
437, sec. 36, effective July 15, 1986.