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41.300 Special deposit trust fund.
There shall be a special deposit fund consisting of all money received by the state or
any department or officer thereof as guarantees for the payment of any costs,
charges or damages accruing or liable to accrue to the state or for the performance
of any specific act, including all money deposited as bail to secure the liberation of
persons accused of public offenses, all money deposited by bidders on contracts to
insure their entering into contracts awarded them, and all money deposited to
indemnify persons whose property may be damaged or destroyed by the operations
of the depositor. All such money shall be paid to the Treasurer, in the manner
provided for the deposit of public money, and shall be deposited by the Treasurer as
a trust fund in a separate account in a designated depository bank. The money so
deposited may be returned to the depositor, if he becomes entitled to its return,
without specific appropriation, allotment or authorization for expenditure therefor, in
the same manner as other claims against the state may be paid, or may, upon
default of any depositor and upon certificate to such effect by the administrative
officer having charge of the matter, be declared by the Finance and Administration
Cabinet to be forfeited in whole or in part and thereupon be transferred to the extent
so forfeited to the general fund. The interest on bank deposits of this fund shall
accrue to the general fund.
History: Amended 1974 Ky. Acts ch. 74, Art. II, sec. 9(1). -- Recodified 1942 Ky.
Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 1992b-50.
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