{"data":{"id":"us-ky/krs-162.490","jurisdiction":"us-ky","citation":"KRS 162.490","heading":"Insurance fund may be used in case of delay in payment under insurance","body":"policy.\nIf any insurance company delays in paying to the board of education the amount of any\nloss under a policy, the board may, on the recommendation of its building and finance\ncommittee, appropriate from the insurance fund a sum not exceeding the amount of the\nprobable loss under the policy to aid in the prompt restoration of the loss. The amount\ndrawn from the insurance fund shall not exceed the amount collectible from the poli cy. A\nresolution shall be adopted setting over to the insurance fund the proceeds of the policy or\nsufficient thereof to replace the amount so used, and the proceeds when collected shall be\nso used and not otherwise.","path":["KRS Chapter 162"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4083","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:12Z","sha256":"2d58aec36749351718c3deebf55a4e2fcd73183c094f3d4d91cc4d252b0ece89","source_id":"us-ky","stale":false,"prev":"us-ky/krs-162.480","next":"us-ky/krs-162.500"},"notice":"GroundRules: Original legal text. Not legal advice."}