All moneys received under KRS § 353.750 to KRS § 353.776, either from the sale of bonds or as revenues, shall be held and applied solely as provided in KRS § 353.750 to KRS § 353.776. The proceedings or the trust indenture shall provide that any officer with whom, or any bank or trust company with which, these moneys are deposited shall act as trustee of the moneys and shall hold and apply them for the purposes stated, subject to any regulation that KRS § 353.750 to KRS § 353.776, proceedings thereunder, or the trust indenture may provide.
Effective: June 20, 2005
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Terms Used In Kentucky Statutes 353.770

  • Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Trustee: A person or institution holding and administering property in trust.

History: Created 2005 Ky. Acts ch. 155, sec. 11, effective June 20, 2005.

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