{"data":{"id":"us-ky/krs-164a.011","jurisdiction":"us-ky","citation":"KRS 164A.011","heading":"Plans for organization and operation of corporation and of Kentucky","body":"Higher Education Assistance Authority -- Code of ethics.\n(1) By January 1, 1997, the board of the Kentucky Higher Education Assistance\nAuthority and the board of the Kentucky Higher Education Student Loan\nCorporation shall prepare and submit to the Governor, the Legislative Research\nCommission, and the Finance and Administration Cabinet a plan for the future\norganization and operation of the respective agencies. The plans shall be pre pared\naccording to the preprivatization guide established by the Privatization Commission\nand shall include, but not be limited to, detailed information on the following:\n(a) The new or expanded businesses or services the boards may want to engage\nin, and the financing thereof, or which may be available to enhance the boards'\nrole in the student loan business;\n(b) The new or expanded businesses or services the boards may want to engage\nin, and the financing thereof, or which may be available to enhance the boards'\nrole in the financial market;\n(c) A proposed and transitional personnel system to meet the needs of any\nproposed organization and operations of the authority or corporation that shall\ninclude but not be limited to:\n1. A salary and compensation plan; and\n2. Personnel benefits including health insurance coverage, deferred\ncompensation opportunities, workers' compensation, life insurance\ncoverage, a retirement plan and merit system rights; and\n(d) The process to be used by the authority and the corpora tion in the\ndevelopment and implementation of their respective operating budgets,\nincluding the methodology for the transfer of funds between the entities and\nthe involvement of the executive branch and the General Assembly in their\nbudget process.\n(2) The plan shall include a proposed code of ethics to apply to all members of the\nboards, officers, and employees of the respective agencies. The code of ethics\nadopted shall include, but not be limited to, provisions that set forth:\n(a) Standards of conduct;\n(b) Requirements for filing and maintaining annual financial disclosure\nstatements, which shall be open to public inspection;\n(c) A policy on the employment of members of the families of members of the\nboards, officers, and employees;\n(d) The designation of a person or group responsible for enforcement of the code\nof ethics, maintenance of financial disclosure records, and receipt and\ninvestigation of complaints of violation of the code of ethics; and\n(e) The penalties for violation of the code of ethics.","path":["KRS Chapter 164A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4530","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:19Z","sha256":"682a39ce9aaf009a7fcdd3e35a0ba079949242b8196f96746730ba9c28230bb9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164a.010","next":"us-ky/krs-164a.020"},"notice":"GroundRules: Original legal text. Not legal advice."}