Kentucky Statutes 518.030 – Receiving commercial bribe
Current as of: 2024 | Check for updates
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(1) A person is guilty of receiving a commercial bribe when:
(a) As an employee or agent, and without the consent of his employer or principal, he knowingly solicits, accepts or agrees to accept any benefit from another person upon an agreement or understanding that the benefit will influence his conduct contrary to his employer’s or principal’s best interest; or
For details, see § 532.090
(b) As a fiduciary, and without the consent of his beneficiary, he knowingly solicits, accepts or agrees to accept any benefit from another person upon an agreement or understanding that the benefit will influence his conduct contrary to his fiduciary obligation.
(2) Receiving a commercial bribe is a Class A misdemeanor.
Effective: January 1, 1975
History: Created 1974 Ky. Acts ch. 406, sec. 158, effective January 1, 1975.
(a) As an employee or agent, and without the consent of his employer or principal, he knowingly solicits, accepts or agrees to accept any benefit from another person upon an agreement or understanding that the benefit will influence his conduct contrary to his employer’s or principal’s best interest; or
Attorney's Note
Under the Kentucky Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class A misdemeanor | up to 12 months | up to $500 |
Terms Used In Kentucky Statutes 518.030
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Benefit: means gain or advantage to the beneficiary or to a third person pursuant to the desire or consent of the beneficiary. See Kentucky Statutes 518.010
- Fiduciary: A trustee, executor, or administrator.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(b) As a fiduciary, and without the consent of his beneficiary, he knowingly solicits, accepts or agrees to accept any benefit from another person upon an agreement or understanding that the benefit will influence his conduct contrary to his fiduciary obligation.
(2) Receiving a commercial bribe is a Class A misdemeanor.
Effective: January 1, 1975
History: Created 1974 Ky. Acts ch. 406, sec. 158, effective January 1, 1975.