Kentucky Statutes 154A.410 – Content of contracts — Powers of president in regard to contracts
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(1) Any contract executed by the corporation pursuant to this chapter shall specify the reasons for which any contract may be suspended, revoked, or terminated by the corporation, including, but not limited to:
(a) Commission of a violation of this chapter or administrative regulations adopted pursuant thereto;
(b) Failure to accurately account for lottery tickets, revenues, or prizes as required by the corporation;
(c) Commission of any fraud, deceit, or misrepresentation; (d) Insufficient sale of tickets;
(e) Conduct prejudicial to public confidence in the lottery;
(f) Any material change in any matter considered by the corporation in executing the contract with the retailer;
(g) Failure to meet any of the objective criteria established by the board pursuant to KRS § 154A.400(1).
(2) If, in the discretion of the president, such denial, revocation, suspension or rejection of renewal is in the best interests of the lottery, the public welfare, or the Commonwealth of Kentucky, the president may suspend, revoke, or terminate, after notice and a hearing, any contract issued pursuant to this chapter. Such contract may, however, be temporarily suspended by the president without prior notice, pending any prosecution, hearing, or investigation, whether by a third party or by the president. A contract may be suspended, revoked, or terminated by the president for one (1) or more of the reasons enumerated in subsection (1) of this section.
Effective: July 15, 1994
History: Amended 1994 Ky. Acts ch. 170, sec. 10, effective July 15, 1994. — Created
1988 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 10, effective December 15, 1988.
(a) Commission of a violation of this chapter or administrative regulations adopted pursuant thereto;
Terms Used In Kentucky Statutes 154A.410
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Fraud: Intentional deception resulting in injury to another.
- 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
- President: means the president of the Kentucky Lottery Corporation who shall also serve as chief executive officer of the corporation. See Kentucky Statutes 154A.010
- Retailer: means any person with whom the corporation has contracted to sell lottery tickets to the public. See Kentucky Statutes 154A.010
(b) Failure to accurately account for lottery tickets, revenues, or prizes as required by the corporation;
(c) Commission of any fraud, deceit, or misrepresentation; (d) Insufficient sale of tickets;
(e) Conduct prejudicial to public confidence in the lottery;
(f) Any material change in any matter considered by the corporation in executing the contract with the retailer;
(g) Failure to meet any of the objective criteria established by the board pursuant to KRS § 154A.400(1).
(2) If, in the discretion of the president, such denial, revocation, suspension or rejection of renewal is in the best interests of the lottery, the public welfare, or the Commonwealth of Kentucky, the president may suspend, revoke, or terminate, after notice and a hearing, any contract issued pursuant to this chapter. Such contract may, however, be temporarily suspended by the president without prior notice, pending any prosecution, hearing, or investigation, whether by a third party or by the president. A contract may be suspended, revoked, or terminated by the president for one (1) or more of the reasons enumerated in subsection (1) of this section.
Effective: July 15, 1994
History: Amended 1994 Ky. Acts ch. 170, sec. 10, effective July 15, 1994. — Created
1988 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 10, effective December 15, 1988.