Kentucky Statutes 40.220 – “Veterans’ Bonus Fund.”
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(1) The proceeds of all bonds issued and delivered under this chapter shall be deposited from time to time in the State Treasury and shall be segregated in a special fund, hereby created, which shall be designated the “Veterans’ Bonus Fund.” Moneys in said fund from time to time shall be disbursed solely for payment of approved veterans’ bonus claims, and for the expenses incurred in issuing such bonds. Pending disbursement, the same may be invested and reinvested as the State Property and Buildings Commission may from time to time prescribe; and income from the investments shall be credited to such fund.
(2) If there shall be an undisbursed balance in said fund after payment of all approved claims received by the administrator within the time limits established in KRS
40.070, the same shall be transferred to the general fund of the Commonwealth.
History: Created 1960 Ky. Acts ch. 15, sec. 25, effective February 20, 1960.
(2) If there shall be an undisbursed balance in said fund after payment of all approved claims received by the administrator within the time limits established in KRS
Terms Used In Kentucky Statutes 40.220
- Administrator: means the adjutant general of the Commonwealth. See Kentucky Statutes 40.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
40.070, the same shall be transferred to the general fund of the Commonwealth.
History: Created 1960 Ky. Acts ch. 15, sec. 25, effective February 20, 1960.