Kentucky Statutes 153.430 – Executive director — Staff — Use of revenues — Audit
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(1) The Kentucky Center for the Arts Corporation shall appoint an executive director, who shall hold office at its pleasure, and shall serve in a full-time capacity. The executive director shall be the chief administrative officer of the corporation and shall provide the staff direction and coordination in implementing the program and discharging the duties of the corporation. The executive director is authorized to act under direction of the corporation in employing necessary staff to perform its duties and exercise its powers as assigned by KRS § 153.420.
(2) The staff shall keep all minutes, records and orders of the corporation, and shall be responsible for preservation of all such documents, which are public records subject to KRS § 61.870 to KRS § 61.884. The staff shall also perform any other duties assigned by the executive director, with approval of the corporation.
(3) All revenues derived by the corporation from the use of the Kentucky Center for the Arts, or contributions to the Kentucky Center for the Arts from any other source as authorized in KRS § 153.420, shall be solely used to defray the expenses of the Kentucky Center for the Arts, including payment on debt, the cost of management and operation of its facilities, the creation of an adequate reserve for repair, replacement, debt service and capital improvements, and the procurance of insurance and promotional activities. Any additional revenues in excess of amounts necessary to defray the actual costs and expenses properly related to the conduct of any activity authorized in KRS § 153.420 derived by the corporation from any other source, or as a result of any other activity authorized in KRS § 153.420, shall similarly be used solely for the purposes enumerated in this section. An annual audit of all funds of the corporation and its affiliated entities shall be made by the State Auditor of Public Accounts, and reported to the Governor.
Effective: July 13, 1990
History: Amended 1990 Ky. Acts ch. 1, sec. 3, effective July 13, 1990. — Amended
1980 Ky. Acts ch. 382, sec. 4, effective April 9, 1980. — Created 1980 Ky. Acts ch.
295, sec. 39, effective July 15, 1980.
(2) The staff shall keep all minutes, records and orders of the corporation, and shall be responsible for preservation of all such documents, which are public records subject to KRS § 61.870 to KRS § 61.884. The staff shall also perform any other duties assigned by the executive director, with approval of the corporation.
Terms Used In Kentucky Statutes 153.430
- 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: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) All revenues derived by the corporation from the use of the Kentucky Center for the Arts, or contributions to the Kentucky Center for the Arts from any other source as authorized in KRS § 153.420, shall be solely used to defray the expenses of the Kentucky Center for the Arts, including payment on debt, the cost of management and operation of its facilities, the creation of an adequate reserve for repair, replacement, debt service and capital improvements, and the procurance of insurance and promotional activities. Any additional revenues in excess of amounts necessary to defray the actual costs and expenses properly related to the conduct of any activity authorized in KRS § 153.420 derived by the corporation from any other source, or as a result of any other activity authorized in KRS § 153.420, shall similarly be used solely for the purposes enumerated in this section. An annual audit of all funds of the corporation and its affiliated entities shall be made by the State Auditor of Public Accounts, and reported to the Governor.
Effective: July 13, 1990
History: Amended 1990 Ky. Acts ch. 1, sec. 3, effective July 13, 1990. — Amended
1980 Ky. Acts ch. 382, sec. 4, effective April 9, 1980. — Created 1980 Ky. Acts ch.
295, sec. 39, effective July 15, 1980.