Kentucky Statutes 160.580 – Gift, grant, or devise to school board
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All sums arising from any gift, grant, or devise by any person wherein the intent is expressed that the same is to be used to aid in the education of children in any school district in this state shall be held and used for the purposes specified in the gift, grant, or devise. The district board of education shall receive the gift, grant, or devise for the benefit of the schools of its district and shall hold and use it as requested by the donor or devisor, provided that the purpose for which it is used shall be in harmony with the aims and general program of public education in this state.
Effective: July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 454, effective July
13, 1990. — Amended 1974 Ky. Acts ch. 49, sec. 4. — Recodified 1942 Ky. Acts ch.
208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4399-57.
Effective: July 13, 1990
Terms Used In Kentucky Statutes 160.580
- Devise: To gift property by will.
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 454, effective July
13, 1990. — Amended 1974 Ky. Acts ch. 49, sec. 4. — Recodified 1942 Ky. Acts ch.
208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4399-57.