{"data":{"id":"us-ky/krs-341.520","jurisdiction":"us-ky","citation":"KRS 341.520","heading":"Disposition of funds upon discontinuance of trust fund.","body":"KRS 341.490, 341.500 and 341.510, to the extent that they relate to the unemployment\ntrust fund, shall be operative only so long as that fund continues to exist and so long as\nthe secretary of the federal treasury continues to maintain for this state a sep arate book\naccount of all funds deposited therein by this state for benefit purposes, together with this\nstate's proportionate share of the earnings of that fund, from which no other state is\npermitted to make withdrawals. If the unemployment trust fund ce ases to exist, or such\nseparate book account is no longer maintained, all money, property or securities therein,\nbelonging to the unemployment insurance fund of this state shall be transferred to the\ntreasurer of the unemployment insurance fund, who shall hold, invest, transfer, sell,\ndeposit, and release such money, property, or securities in a manner approved by the\nsecretary and the Finance and Administration Cabinet, in accordance with this chapter.\nSuch money shall be invested in bonds or other interes t-bearing obligations of the United\nStates of America. Investments shall at all times be so made that all the assets of the fund\nshall always be readily convertible into cash when needed for the payment of benefits.\nThe State Treasurer shall dispose of sec urities or other property belonging to the\nunemployment insurance fund only under the direction of the secretary and the secretary\nof the Finance and Administration Cabinet.","path":["KRS Chapter 341"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=32314","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:29Z","sha256":"3b3c16b4f87a73649dc9ddcf3636b6bbf43e999e71edb8f1f7da8033568bfb3a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-341.510","next":"us-ky/krs-341.530"},"notice":"GroundRules: Original legal text. Not legal advice."}