{"data":{"id":"us-ky/krs-367.938","jurisdiction":"us-ky","citation":"KRS 367.938","heading":"Trust funds, how kept and deposited -- Separate accounting record for","body":"each contract.\n(1) All trust funds mentioned in KRS 367.932 to 367.974 and 367.991 shall be\ndeposited in the name of the agent, with the financial institution, as trustee, within\nthirty (30) days after receipt thereof, with a bank or trust company or invested in a\nsavings and loan association and shall be held together with the interest, dividends,\nor accretions thereon, in trust, subject to the provisions of KRS 367.932 to 367.974\nand 367.991. The agent at the time of making deposit or investment shall furnish to\nthe financial institution the name of each payor, and the amount of payment on each\naccount for which the deposit or investment is being made.\n(2) Deposits to such funds an d the amounts deposited may be commingled, but the\naccounting records shall establish a separate account for each prepaid contract and\nshall show amounts deposited and the income and loss occurring thereon with\nrespect to each contract.","path":["KRS Chapter 367"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35116","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:06Z","sha256":"29cc3fcd3f4c3f07a9a196e09f756d2da0500fe3f92b35c56a0d9c928b367a17","source_id":"us-ky","stale":false,"prev":"us-ky/krs-367.937","next":"us-ky/krs-367.940"},"notice":"GroundRules: Original legal text. Not legal advice."}