Kentucky Statutes 41.370 – Check to be presented within one year — Cancellation and warrant against check
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(1) Any check issued by the State Treasurer shall not be valid as an order for payment after one (1) year from its date of issue and this limitation shall appear on all checks issued. The State Treasurer is authorized to clear the records of all such unpaid checks and credit the amounts to the fund against which it was originally drawn.
(2) When any properly endorsed check issued by the State Treasurer is presented for payment more than one (1) year after its date of issue and within the period prescribed by KRS § 413.120, the State Treasurer shall, upon satisfactory proof of ownership, cancel the check and forward it to the secretary of the Finance and Administration Cabinet with the date and identifying information which credited the amount of the check to a particular fund. The secretary of the Finance and Administration Cabinet shall draw a warrant against the check. All endorsements on the surrendered check shall have the same effect as if the check were paid by the drawee. All checks paid in the manner herein set forth shall be charged against the fund against which they were originally drawn.
Effective: April 11, 2012
History: Amended 2012 Ky. Acts ch. 88, sec. 3, effective April 11, 2012. — Amended
1998 Ky. Acts ch. 118, sec. 14, effective July 15, 1998. — Amended 1992 Ky. Acts ch. 115, sec. 1, effective July 14, 1992. — Amended 1988 Ky. Acts ch. 74, sec. 2, effective July 15, 1988. — Amended 1974 Ky. Acts ch. 74, Art. II, sec. 9(2). — Amended 1972 Ky. Acts ch. 209, sec. 1. — Created 1948 Ky. Acts ch. 187, sec. 1.
(2) When any properly endorsed check issued by the State Treasurer is presented for payment more than one (1) year after its date of issue and within the period prescribed by KRS § 413.120, the State Treasurer shall, upon satisfactory proof of ownership, cancel the check and forward it to the secretary of the Finance and Administration Cabinet with the date and identifying information which credited the amount of the check to a particular fund. The secretary of the Finance and Administration Cabinet shall draw a warrant against the check. All endorsements on the surrendered check shall have the same effect as if the check were paid by the drawee. All checks paid in the manner herein set forth shall be charged against the fund against which they were originally drawn.
Terms Used In Kentucky Statutes 41.370
- Secretary: means the secretary of the Finance and Administration Cabinet. See Kentucky Statutes 41.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Warrant: means a printed or electronic authorization from the Finance and
Administration Cabinet for the Treasurer to issue a check. See Kentucky Statutes 41.010 - Year: means calendar year. See Kentucky Statutes 446.010
Effective: April 11, 2012
History: Amended 2012 Ky. Acts ch. 88, sec. 3, effective April 11, 2012. — Amended
1998 Ky. Acts ch. 118, sec. 14, effective July 15, 1998. — Amended 1992 Ky. Acts ch. 115, sec. 1, effective July 14, 1992. — Amended 1988 Ky. Acts ch. 74, sec. 2, effective July 15, 1988. — Amended 1974 Ky. Acts ch. 74, Art. II, sec. 9(2). — Amended 1972 Ky. Acts ch. 209, sec. 1. — Created 1948 Ky. Acts ch. 187, sec. 1.