{"data":{"id":"us-ky/krs-367.948","jurisdiction":"us-ky","citation":"KRS 367.948","heading":"Records of registrants.","body":"Every registrant shall keep and maintain adequate records, including, but not limited to,\nthe following:\n(1) A cash receipts journal, or its equivalent, listing moneys received in chronological\norder. The journal shall contain dates of all such moneys rece ived, amounts\nreceived, and identification of the purchasers;\n(2) A cash disbursement journal, or its equivalent, containing the same information as\nrequired by subsection (1) of this section for moneys disbursed; if a separate bank\naccount is kept exclusi vely for any such funds, the checkbook could be used as a\ncash disbursement journal;\n(3) A \"reconciliation\" done at least once every twelve (12) months. The reconciliation\nshall indicate the beginning balance in the trust account, payments received during\nthe period, interest earned during the period, disbursements during the period, and\nthe ending balance for the period. The ending balance for each period is determined\nas follows:\nBeginning balance\n+ Payments received\n+ Interest\n- Disbursements\nEnding Balance\n(4) All contracts, sales, trust fund, and accounting records of the registrant shall be\nreadily available at the registrant's principal place of business in this state at\nreasonable times for examination by an authorized representative of the  Attorney\nGeneral's office;\n(5) (a) The necessary expenses of any reasonable examination made pursuant to this\nsection shall be paid by the registrant; but in no case shall the Attorney\nGeneral or his authorized representatives be paid more than the actual\nexpenses of such examination, not to exceed the lesser of the following\namounts: one hundred dollars ($100) per day for each auditor or five dollars\n($5) for each registrant's sales contract examined. In any event, the cost of\nsuch examination shall not e xceed a total of one thousand two hundred fifty\ndollars ($1,250) during any twelve (12) month period;\n(b) The registrant may pay for this expense using interest moneys which have\naccrued on the registrant's existing cemetery merchandise trust fund accounts\nor preconstruction trust fund account or perpetual care account. Any\nwithdrawal of interest for this purpose shall be taken as a pro rata share of all\nof the trust fund accounts. The Attorney General shall be advised in writing by\nthe registrant when inte rest moneys are the source of payment and shall\nreceive written certification from the financial institution or registrant that the\nwithdrawal was a pro rata share;\n(6) This section shall apply to examinations of all registrant's contracts.","path":["KRS Chapter 367"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35121","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:06Z","sha256":"b87fa1e50f383a1caf206a9d1d8a10ac1e959d41f85cdf14d2f0b2cd0fe1dce6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-367.946","next":"us-ky/krs-367.950"},"notice":"GroundRules: Original legal text. Not legal advice."}