{"data":{"id":"us-ky/krs-151b.465","jurisdiction":"us-ky","citation":"KRS 151B.465","heading":"Powers and duties.","body":"All powers, duties, and responsibilities conferred upon the corporation by KRS 151B.450\nto 151B.475 shall be exercised by the board of directors of the corporation. They shall\ninclude, but shall not be limited to, the following:\n(1) To establish and admini ster a program for providing low -interest loans to qualified\nborrowers through qualified lenders for the acquisition of assistive technology.\n(2) To establish criteria for participation in the loan program as a qualified lender or\nqualified borrower and to  establish the terms and conditions under which loans are\nto be made. The board shall contract with one (1) or more federal-approved or state-\napproved lending institutions for the purpose of making loans to qualified\nborrowers, the qualified borrower havin g been preapproved by the board consistent\nwith criteria established by the board and promulgated in administrative regulations.\n(3) To enter into agreements, contracts, or other documents with any federal, state, or\nlocal agency or any person, corporation , association, partnership, or other\norganization or entity necessary to accomplish the purposes of KRS 151B.450 to\n151B.475.\n(4) To accept for inclusion in the fund appropriations, grants, revenue sharing, devises,\ngifts, bequests, donations, federal gran ts, and any other aid from any source\nwhatsoever and to agree to, and to comply with, conditions incident thereto.\n(5) To incorporate a nonprofit organization pursuant to KRS Chapter 273 which\nqualifies as a tax -exempt organization under Section 501(c)(3) of the Internal\nRevenue Code, for the purpose of receiving tax -deductible gifts, donations, and\nbequests.\n(6) To invest moneys from the fund with qualified lenders for the purposes of providing\ninterest reductions, interest buy downs, and loan guarantees.\n(7) To sue and be sued in its own name.\n(8) To adopt an official seal and alter it as necessary.\n(9)  To promulgate administrative regulations through the cabinet and pursuant to KRS\nChapter 13A to establish the policies and procedures under which the powe rs,\nduties, and responsibilities conferred by KRS 151B.450 to 151B.475 are to be\ncarried out.","path":["KRS Chapter 151B"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2248","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:47Z","sha256":"1ddaca15678f813a60c95c65224fb496603318d2b5fc240ce3ce59f7d29a70bb","source_id":"us-ky","stale":false,"prev":"us-ky/krs-151b.460","next":"us-ky/krs-151b.470"},"notice":"GroundRules: Original legal text. Not legal advice."}