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95.590 Custody of pension fund established under KRS 95.520.
(1)
(2)
(3)
The city treasurer, in cities with a pension fund established under KRS 95.520, is ex
officio treasurer of the board of trustees of the pension fund, and custodian of the
pension funds.
The treasurer, as custodian, shall securely keep the fund, subject to the control of
the board, and shall keep his books and accounts concerning the fund in the manner
prescribed by the board. The books and accounts are always subject to the
inspection of the board or any board member.
The treasurer shall, within ten (10) days after his election, execute a bond to the city
with good surety, in the penal sum the board of trustees directs, to be approved by
the board, conditioned for the faithful performance of the duties of his office, and
that he will safely keep and well and truthfully account for all money and properties
that come into his hands as treasurer of the pension fund, and that upon the
expiration of his term of office he will deliver to his successor all securities,
unexpended moneys and other properties that come into his hands as treasurer of the
fund. The bond shall be filed in the office of the treasurer, and suit may be filed
thereon in the name of the city for the use of the board or any person injured by its
breach.
Effective: January 1, 2015
History: Amended 2014 Ky. Acts ch. 92, sec. 129, effective January 1, 2015. -Amended 1966 Ky. Acts ch. 255, sec. 107. -- Recodified 1942 Ky. Acts ch. 208, sec.
1, effective October 1, 1942, from Ky. Stat. secs. 3142b-3, 3142b-14, 3351a-3,
3351a-14.
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