Kentucky Statutes 154A.020 – State lottery created — Administration by corporation — Management — Intent of General Assembly — Senate confirmation required for corporation existence
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(1) There is hereby created and established a state lottery which shall be administered by an independent, de jure municipal corporation and political subdivision of the Commonwealth of Kentucky which shall be a public body corporate and politic to be known as the Kentucky Lottery Corporation. The corporation shall be deemed a public agency within the meaning of KRS § 61.805 and KRS § 61.870. This corporation shall be managed in such a manner that enables the people of the Commonwealth to benefit from its profits and to enjoy the best possible lottery games. The General Assembly hereby recognizes that the operations of a lottery are unique activities for state government and that a corporate structure will best enable the lottery to be managed in an entrepreneurial and business-like manner. It is the intent of the General Assembly that the Kentucky Lottery Corporation shall be accountable to the Governor, the General Assembly and the people of the Commonwealth through a system of audits, reports and thorough financial disclosure as required by this chapter.
(2) The existence of the corporation shall begin only upon confirmation of the members of the board by the Senate as provided in KRS § 154A.030. Until the time of such confirmation, no business shall be conducted on behalf of the lottery.
(3) Notwithstanding any other provision of law to the contrary, no official action of any form shall be taken by the board at any time unless a majority of the members of the board shall have been confirmed by the Senate as provided in KRS § 154A.030. Any action taken on behalf of the lottery when less than a majority of the members of the board shall have been confirmed shall be of no effect.
Effective: July 15, 2014
History: Amended 2014 Ky. Acts ch. 102, sec. 33, effective July 15, 2014. — Created
1988 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 2, effective December 15, 1988.
(2) The existence of the corporation shall begin only upon confirmation of the members of the board by the Senate as provided in KRS § 154A.030. Until the time of such confirmation, no business shall be conducted on behalf of the lottery.
Terms Used In Kentucky Statutes 154A.020
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- 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
(3) Notwithstanding any other provision of law to the contrary, no official action of any form shall be taken by the board at any time unless a majority of the members of the board shall have been confirmed by the Senate as provided in KRS § 154A.030. Any action taken on behalf of the lottery when less than a majority of the members of the board shall have been confirmed shall be of no effect.
Effective: July 15, 2014
History: Amended 2014 Ky. Acts ch. 102, sec. 33, effective July 15, 2014. — Created
1988 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 2, effective December 15, 1988.