{"data":{"id":"us-ky/krs-171.321","jurisdiction":"us-ky","citation":"KRS 171.321","heading":"Receipts by society from nongovernmental sources -- Audit of fund.","body":"(1) Receipts by the Kentucky Historical Society of gifts, bequests, and devises from\nprivate persons, corporations, and other nongovernmental entities shall be held,\ndeposited, invested, and used by the Kentucky Historical Society under the direction\nof its go verning board and shall be exempt from the requirements of KRS 41.070.\nSuch receipts shall be deemed to include gifts, bequests, and devises heretofore\nmade to the society and separately accounted for by the society under the names of\ndonors as well as gifts, bequests, and devises received after July 13, 1984, and shall\nalso include payments to the Boone day fund and to the Kentucky junior historical\nsociety fund, neither of which shall accept any governmental appropriations or\ngrants.\n(2) Funds held by the  Kentucky Historical Society as provided in this section shall be\naudited by an independent certified public accounting firm, at least once each fiscal\nyear, at the expense of the society, which shall be paid for from the fund being\naudited unless otherwis e provided for. A copy of the audit shall be forwarded\npromptly to the Governor as chancellor of the society, who shall file it with the\nSecretary of State.\n(3) This section shall not exclude the society from the requirements of KRS 41.070\nwith respect to any funds received by it which are appropriated from the State\nTreasury, or received by the society other than as a gift, bequest, devise, or\ncontribution enumerated in subsection (1) of this section or derogate from the status\nof the society as an indepen dent agency of the Commonwealth otherwise subject to\nall requirements of state law applicable to such agencies.","path":["KRS Chapter 171"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44493","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:22Z","sha256":"247db08683ab0cdceb91838694ddb80962d224103c31e8ebf9b22a33d5184c84","source_id":"us-ky","stale":false,"prev":"us-ky/krs-171.320","next":"us-ky/krs-171.325"},"notice":"GroundRules: Original legal text. Not legal advice."}