{"data":{"id":"us-ky/krs-41.460","jurisdiction":"us-ky","citation":"KRS 41.460","heading":"Powers and duties of commission and board -- Executive director.","body":"(1) All powers and duties conferred upon the commission in this chapter shall be\nexercised by the board, including but not limited to the following:\n(a) To adopt bylaws and operate according to its bylaws;\n(b) To enter into agreements, contracts, or other documents with any:\n1. Federal, state, or local agency; or\n2. Person, corporation, association, partnership, or other organization or\nentity;\nnecessary to accomplish the purposes set forth in KRS 41.450 to 41.465;\n(c) 1. To develop and implement a plan toward  increasing financial\nempowerment for all Kentuckians, specifically the following target\ngroups:\na. State government personnel;\nb. Kentuckians with disabilities;\nc. Kentuckians below the poverty threshold as defined by federal\nguidelines;\nd. K-12 students in Kentucky;\ne. Military veterans and personnel who claim residence in Kentucky;\nand\nf. Kentuckians who are retired or at retirement age.\n2. Any curriculum shall be developed by local schools under direction\nprovided by the Kentucky Board of Education related to financial\nliteracy guidelines as promulgated in administrative regulations under\nKRS 158.1411;\n(d) To monitor, review, and evaluate, not less often than annually, the\nimplementation and effectiveness of the commission's objectives;\n(e) To accept for inclusion in the fund appropriations, grants, revenue sharing,\ndevises, gifts, bequests, donations, federal grants, and any other aid from any\nsource whatsoever and to agree to, and to comply with, conditions incident\nthereto;\n(f) To incorporate a nonprofit organization pursuant to KRS Chapter 273 which\nqualifies as a tax -exempt organization under Section 501(c)(3) of the Internal\nRevenue Code, for the purposes of receiving tax -deductible gifts, donations,\nand bequests; and\n(g) 1. To employ a  full-time executive director, who shall hold office at the\npleasure of the board, and any employees necessary to fulfill the duties\nof the commission.\n2. The executive director may be terminated by a vote of seven (7)\nmembers of the board.\n3. The executive director shall:\na. Act under the direction of the board;\nb. Hire necessary staff to assist in performing the duties of the\ncommission;\nc. Carry out the policy and program directives of the commission;\nd. Be responsible for the day-to-day operations of the commission;\ne. Establish appropriate organizational structures and personnel\npolicies;\nf. Prepare annual reports on the commission's activities;\ng. Prepare budgets; and\nh. Perform all other duties as directed by the commission or assigned\nby law.\n4. The executive director and any employees of the commission shall not\nparticipate as members of the Kentucky Retirement Systems.\n(2) Nothing in this section shall be construed to require the Kentucky Department of\nEducation or any particular school district to utilize any resource or provider that\nenters into a contractual relationship with the commission.","path":["KRS Chapter 41"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=49238","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:01Z","sha256":"e9a700df1894a063a8fba6133eeb01800c154e78ee943b89ee572b0f2f7ddc5f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-41.455","next":"us-ky/krs-41.465"},"notice":"GroundRules: Original legal text. Not legal advice."}