There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 162 SCHOOL PROPERTY AND BUILDINGS
162.450 Payments into fund -- Replacement of expenditures -- Use of interest.
Download pdfsecond class, may raise the maximum limit of the insurance fund from time to time as it
deems best. Until the amount in the fund equals the maximum limit, the board of
education shall each year, from the revenues under its control, set apart to the fund a sum
equal to from one-twentieth (1/20) to one-tenth (1/10) of the maximum limit of the sum.
When any portion of the fund is used, payments to restore the fund shall at once be begun
and be continued until the restoration is complete. When the fund is, for any reason,
below the maximum limit, the interest derived from the investment thereof shall be
accumulated and added to the fund; otherwise the interest may be transferred to the
general funds of the board. Effective: July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 581, effective July 13, 1990. -- Amended 1944 Ky. Acts ch. 31, sec. 1. -- Recodified 1942 Ky. Acts
ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3219a-2.
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