{"data":{"id":"us-ky/krs-161.230","jurisdiction":"us-ky","citation":"KRS 161.230","heading":"Retirement system -- Purpose -- Name.","body":"The Teachers' Retirement System is established as of July 1, 1940, for the purpose of\nproviding retirement allowances for teachers, their beneficiaries, and survivors under the\nprovisions of KRS 161.155 and 161.220 to 161.714. The Teachers' Retirement Syst em of\nthe State of Kentucky shall be an independent agency and instrumentality of the\nCommonwealth and this status shall only be amended or changed by the General\nAssembly. It shall have the powers and the privileges of a corporation and shall be known\nas the \"Teachers' Retirement System of the State of Kentucky.\" Its business shall be\ntransacted, its funds invested, and its cash and securities held in that name, or in the name\nof its nominee or title holding organization provided that its nominee or title holding\norganization is authorized by board of trustees' resolution solely for the purpose of\nfacilitating the transfer of securities or acquiring and holding title to real property. The\nboard of trustees may designate a nominee as provided in KRS 286.3 -225; or it may\nname as nominee a partnership composed of selected trustees and employees of the\nsystem, and formed for the sole purpose of holding legal or registered title of such\nsecurities, and for the transfer of securities in accordance with directions of the board of\ntrustees.","path":["KRS Chapter 161"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56059","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:10Z","sha256":"17a4e3d59558b36899ebce9ea4c2fab4ef52178ad0a6c7d8c785b48c6d05d363","source_id":"us-ky","stale":false,"prev":"us-ky/krs-161.220","next":"us-ky/krs-161.235"},"notice":"GroundRules: Original legal text. Not legal advice."}