Kentucky Statutes 164.774 – Kentucky Lottery Corporation to receive list of persons in default of obligations under financial assistance programs — Withholding of prize winnings
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The Kentucky Lottery Corporation and the authority shall develop a system to allow the Kentucky Lottery Corporation to receive on a periodic basis a list of persons declared in default of repayment obligations under financial assistance programs in KRS Chapters
164 and 164A. The Kentucky Lottery Corporation shall withhold from a person’s prize winnings the amount of the defaulted loan and shall transfer the amount to the authority to credit the account of the person in default. Any amount remaining after the deduction of the loan amount shall be paid to the person.
Effective: July 15, 2002
History: Created 2002 Ky. Acts ch. 236, sec. 2, effective July 15, 2002.
164 and 164A. The Kentucky Lottery Corporation shall withhold from a person’s prize winnings the amount of the defaulted loan and shall transfer the amount to the authority to credit the account of the person in default. Any amount remaining after the deduction of the loan amount shall be paid to the person.
Terms Used In Kentucky Statutes 164.774
- 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
Effective: July 15, 2002
History: Created 2002 Ky. Acts ch. 236, sec. 2, effective July 15, 2002.