2013 Kentucky Revised Statutes CHAPTER 42 - FINANCE AND ADMINISTRATION CABINET 42.540 Annual reports of nonprofit fiduciary holding funds for benefit of state organization.
Download as PDF
42.540 Annual reports of nonprofit fiduciary holding funds for benefit of state
organization.
Notwithstanding KRS 41.290, every nonprofit fiduciary holding funds for the benefit
of any form of state organization, including, but not limited to, Eastern Kentucky
University, Kentucky State University, Morehead State University, Murray State
University, Northern Kentucky University, University of Kentucky, University of
Louisville, Western Kentucky University, Kentucky Community and Technical
College System, and the State Fair Board shall make a report according to generally
accepted accounting principles of all money received and disbursed during each
fiscal year, on or before the fifteenth of July, showing receipts, expenditures,
depositories, rates of interest paid by depositories, investments, and rates of return
in investments to the Office of the Controller. These fiduciaries include, but are not
limited to, Eastern Kentucky University Foundation; Kentucky State University
Foundation, Inc.; Morehead State University Foundation, Inc.; Morehead Alumni
Foundation, Inc.; Eagle Athletic Foundation, Inc.; Murray State University
Foundation; Northern Kentucky University Foundation, Inc.; University of Kentucky
Research Foundation; University of Kentucky Athletics Association; the Fund for the
Advancement of Education and Research in the University of Kentucky Medical
Center; Health Care Collection Service, Inc.; McDowell Cancer Network, Inc.;
University of Kentucky-Business Partnership Foundation, Inc.; Kentucky Medical
Services Foundation, Inc.; University of Louisville Foundation, Inc.; University of
Louisville Hospital, Inc.; University of Louisville Institute of Industrial Research, Inc.;
University of Louisville Medical School Fund, Inc.; the College Heights Foundation;
KFEC Research and Development Foundation, Inc.; Kentucky Export Resources
Authority, Inc.; and all similar nonprofit fiduciaries for the benefit of any form of state
organization and their successors.
Effective:May 30, 1997
History: Amended 1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 32, effective May
30, 1997; and ch. 4, sec. 39, effective May 30, 1997. -- Amended 1990 Ky. Acts
ch. 325, sec. 22, effective July 13, 1990. -- Created 1982 Ky. Acts ch. 382,
sec. 14, effective July 15, 1982.
Legislative Research Commission Note (7/28/97). This section was amended by
1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 32, and ch. 4, sec. 39, which do not
appear to be in conflict and have been compiled together under KRS 7.136(3).
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.