There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 247 PROMOTION OF AGRICULTURE AND HORTICULTURE
247.955 Moneys received under KRS 247.940 to 247.978 deemed to be trust funds.
Download pdfto the authority of the provisions of KRS 247.940 to 247.978 shall be deemed to be trust
funds to be held and applied solely as provided in the provisions of KRS 247.940 to
247.978. The resolution authorizing any obligations or the trust agreement securing the
same may provide that any of the moneys may be temporarily invested pending the
disbursement thereof and shall provide that any officer with whom, or any bank or trust
company with which, the moneys shall be deposited shall act as trustee of these moneys
and shall hold and apply the same for the purposes hereof, subject to administrative
regulations promulgated pursuant to the provisions to KRS 247.940 to 247.978, and as
any resolution or trust agreement may provide. Any moneys of the corporation may be
invested as provided in KRS 247.946. Effective: July 13, 1990
History: Created 1990 Ky. Acts ch. 440, sec. 9, effective July 13, 1990.
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