{"data":{"id":"us-ky/krs-164a.325","jurisdiction":"us-ky","citation":"KRS 164A.325","heading":"Additional powers of board as to savings plan trust.","body":"In addition to effectuating and carrying out all of the powers granted by KRS 164A.300 to\n164A.380, the board, as trustee, shall have all powers necessary to carry out and\neffectuate the purposes, objectives, and provisions of KRS 164A.300 to 164A.380\npertaining to the savings plan trust, including, but not limited to, the power to:\n(1) Engage investment advisors to assist in the investment of savings plan trust assets;\n(2) Carry out studies and projections in order to advise participants regarding present\nand estimated future education costs and levels of financial participation in the trust\nrequired in order to enable participants to achieve their educational funding\nobjectives;\n(3) Contract, in accordance with the provisions of KRS 45A.345 to 45A.460 unde r\nKRS 45A.343, for goods and services and engage personnel as necessary, including\nconsultants, actuaries, managers, counsel, and auditors for the purpose of rendering\nprofessional, managerial, and technical assistance and advice, all of which contract\nobligations and services shall be payable from any moneys of the trust;\n(4) Participate in any other way in any federal, state, or local governmental program for\nthe benefit of the savings plan trust;\n(5) Promulgate, impose, and collect administrative fees an d charges in connection with\ntransactions of the savings plan trust, and provide for reasonable service charges,\nincluding penalties for cancellations and late payments in respect of participation\nagreements;\n(6) Procure insurance against any loss in conne ction with the property, assets or\nactivities of the savings plan trust;\n(7) Administer the funds of the savings plan trust;\n(8) Procure insurance indemnifying any member of the board from personal loss or\naccountability arising from liability resulting fr om a member's action or inaction as\na member of the board; and\n(9) Promulgate reasonable rules and regulations for the administration of the savings\nplan trust.","path":["KRS Chapter 164A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=47979","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:19Z","sha256":"ca3b2cb46fc3afb1023c5f8862e328845f2147bfbbb8ab15900dc80e7a361403","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164a.320","next":"us-ky/krs-164a.330"},"notice":"GroundRules: Original legal text. Not legal advice."}