Kentucky Statutes 96.230 – City of the first class or consolidated local government to control waterworks
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Whenever any city of the first class or consolidated local government owns, through its commissioners of the sinking fund or revenue commission, respectively, all the shares of capital stock in any corporation engaged in supplying water to its inhabitants, the city or consolidated local government shall control, manage, and operate the plant of the corporation, its franchise, and all its other property, in the manner provided in KRS
96.240 to 96.310. The provisions of KRS § 96.230 to KRS § 96.310 shall not affect the status of the stock as part of the assets of the sinking fund or revenue commission, respectively.
Effective: July 15, 2002
History: Amended 2002 Ky. Acts ch. 346, sec. 108, effective July 15, 2002. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 3024a-1, 3024a-5.
96.240 to 96.310. The provisions of KRS § 96.230 to KRS § 96.310 shall not affect the status of the stock as part of the assets of the sinking fund or revenue commission, respectively.
Terms Used In Kentucky Statutes 96.230
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- City: includes town. 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: 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: Amended 2002 Ky. Acts ch. 346, sec. 108, effective July 15, 2002. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 3024a-1, 3024a-5.