KRS 164A.615: Acceptance of gifts -- Awarding of scholarships, grants, etc.

Nothing contained in KRS 164A.555 to 164A.630 shall be construed to prevent an

institution or an affiliated corporation from enforcing or carrying out the bona fide terms

of any gift, grant, conveyance, devise or bequest from any private person, corporatio n,

foundation, estate or other entity contributing funds or any other thing of value to the

institution or affiliated corporation, nor shall same be construed to prevent an affiliated

corporation from awarding athletic scholarships or other scholarship, fe llowship,

assistantship or similar grants, loans or awards to students, faculty or other employees of

an institution, or from performing such other functions as may be assigned by the

institution's governing board.