KRS 198A.120: All moneys received are trust funds and may be temporarily invested.
Where this section sits in the code
- KRS Chapter 198A
Notwithstanding any other provisions of law to the contrary, all moneys received pursuant
to the authority of this chapter shall be deemed to be trust funds to be held and applied
solely as provided in this chapter. The resolution authorizing any obligatio ns or the trust
agreement securing the same may provide that any of such moneys may be temporarily
invested pending the disbursement thereof and shall provide that any officer with whom,
or any bank or trust company with which, such moneys shall be deposit ed shall act as
trustee of such moneys and shall hold and apply the same for the purposes hereof, subject
to such regulations as this chapter and such resolution or trust agreement may provide.
Any such moneys or any other moneys of the corporation may be invested as provided in
KRS 386.020.
Collected 2026-09-05T20:51:50Z. Source file · JSON