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246.285
Powers of Commissioner concerning assets of Kentucky Rural
Rehabilitation Corporation.
(1)
(2)
The Commissioner of Agriculture of the State of Kentucky is authorized and
empowered to:
(a) Collect, compromise, adjust or cancel claims and obligations arising out of or
administered under KRS 246.270 to 246.290 or under any mortgage, lease,
contract or agreement entered into or administered pursuant to KRS 246.270
to 246.290 and, if in his judgment, necessary and advisable, pursue the same
to final collection in any court having jurisdiction;
(b) Bid for and purchase at any execution, foreclosure or other sale, or otherwise
to acquire property upon which the Secretary has a lien by reason of a
judgment or execution, or which is pledged, mortgaged, conveyed or which
otherwise secures any loan or other indebtedness owing to or acquired by the
Secretary under KRS 246.270 to 246.290; and
(c) Accept title to any property so purchased or acquired; to operate or lease such
property for such period as may be deemed necessary to protect the
investment therein; and to sell or otherwise dispose of such property in a
manner consistent with the provisions of KRS 246.270 to 246.290.
The authority herein contained may be delegated to the Secretary of Agriculture of
the United States with respect to funds and assets transferred to him pursuant to
KRS 246.275.
History: Created 1952 Ky. Acts ch. 168, sec. 4.
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