2006 Kentucky Revised Statutes - .224   Bond to secure installment payment of inheritance tax.

140.224 Bond to secure installment payment of inheritance tax. (1) Where a beneficiary elects to pay the inheritance tax on the installment basis as provided in this chapter, such beneficiary may be required to post sufficient security at any time the department reasonably believes collection of the tax may be in jeopardy. (2) Failure of a beneficiary to pay any installment due or to post the required security shall cause all installments to become immediately due and payable. Effective: June 20, 2005 History: Amended 2005 Ky. Acts ch. 85, sec. 463, effective June 20, 2005. -- Created 1978 Ky. Acts ch. 233, sec. 42, effective June 17, 1978.