2015 Kentucky Revised Statutes CHAPTER 95 - CITY POLICE AND FIRE DEPARTMENTS 95.610 Payments to pension fund established under KRS 95.520 -- Disbursements -- Insufficient funds.
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95.610 Payments to pension fund established under KRS 95.520 -- Disbursements - Insufficient funds.
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The officers of cities with pension funds established under KRS 95.520 that are
designated by law to draw warrants on the city treasurer shall, on request in writing
by the board of trustees of the pension fund, draw warrants on the city treasurer
payable to the treasurer of the board of trustees of the pension fund for all funds
belonging to the pension fund.
Moneys ordered paid from the pension fund to any person shall be paid by the
treasurer of the board of trustees only upon warrant signed by the president of the
board and countersigned by the secretary. No warrant shall be drawn except by
order of the board of trustees duly entered on the records of the proceedings of the
board.
If at any time there is not sufficient money in the pension fund to pay each
beneficiary the full amount per month to which he is entitled, an equal percentage of
the monthly payments due shall be paid to each until the fund is so replenished as to
warrant payment in full to all beneficiaries.
Effective: January 1, 2015
History: Amended 2014 Ky. Acts ch. 92, sec. 131, effective January 1, 2015. -Amended 1966 Ky. Acts ch. 255, sec. 109. -- Recodified 1942 Ky. Acts ch. 208, sec.
1, effective October 1, 1942, from Ky. Stat. secs. 3142b-10, 3142b-15, 3142b-16,
3351a-10, 3351a-15, 3351a-16.
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