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161.230 Retirement system -- Purpose -- Name.
The Teachers' Retirement System is established as of July 1, 1940, for the purpose
of providing retirement allowances for teachers, their beneficiaries, and survivors
under the provisions of KRS 161.155 and 161.220 to 161.714. The Teachers'
Retirement System of the State of Kentucky shall be an independent agency and
instrumentality of the Commonwealth and this status shall only be amended or
changed by the General Assembly. It shall have the powers and the privileges of a
corporation and shall be known as the "Teachers' Retirement System of the State of
Kentucky." Its business shall be transacted, its funds invested, and its cash and
securities held in that name, or in the name of its nominee provided that its nominee
is authorized by board of trustees' resolution solely for the purpose of facilitating the
transfer of securities. The board of trustees may designate a nominee as provided in
KRS 286.3-225; or it may name as nominee a partnership composed of selected
trustees and employees of the system, and formed for the sole purpose of holding
legal or registered title of such securities, and for the transfer of securities in
accordance with directions of the board of trustees.
Effective:July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 485, effective
July 13, 1990. -- Amended 1982 Ky. Acts ch. 326, sec. 2, effective July 1, 1982.
-- Amended 1972 Ky. Acts ch. 82, sec. 2. -- Recodified 1942 Ky. Acts ch. 208,
sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4506b-1.
Legislative Research Commission Note (7/12/2006). 2006 Ky. Acts ch. 247
instructs the Reviser of Statutes to adjust KRS references throughout the
statutes to conform with the 2006 renumbering of the Financial Services Code,
KRS Chapter 286. Such an adjustment has been made in this statute.
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