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2020 Kentucky Revised Statutes
Chapter 154 - Development
Subchapter 154.12 - Cabinet for Economic Development
154.12-206 Duties of corporation.

Universal Citation: KY Rev Stat § 154.12-206 (2020)
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154.12-206 Duties of corporation. The corporation shall have all of the powers necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including, but not limited to the following: (1) To adopt bylaws for the regulation of its affairs and the conduct of its business and to prescribe rules, regulations, and policies in connection with the performance of its function and duties; (2) To adopt an official seal; (3) To sue and be sued in its own name; (4) To make contracts and execute all instruments necessary or convenient for the conduct of its business; (5) To make, execute, and effectuate all agreements with any federal or state agency or any person, corporation, association, partnership, or other organization or entity necessary to accomplish the purposes of this chapter; (6) To procure sufficient insurance coverage against any losses in connection with its property; (7) To accept any and all donations, grants, bequests, and devices, conditional or otherwise, of money, property, service, or other things of value which may be received from the United States, or any agency thereof, any governmental agency, an institution, person, firm, or corporation, public and private, to be held, used, or applied solely for the purposes specified in KRS 154.12-204 to 154.12-208. Receipt of each donation or grant shall be detailed in the annual report of the corporation. Such reports shall include the identity of the donor and the nature of the transaction; (8) To collect and disseminate to interested individuals, in cooperation with and through any agencies of federal, state, and municipal government, information concerning areas of present and projected employment need, programs of skills training and education consistent therewith, and any other relevant information; (9) To provide grants-in-aid to educational institutions and approved companies to encourage and facilitate the formation of comprehensive cooperative relationships between the public and private sectors which secure for such institutions the information, technical assistance, and financial support necessary for the development and significant expansion of programs of skills training and education consistent with employment need; (10) To prepare, publish, and distribute, with or without charge as the corporation may determine, such technical studies, reports, bulletins, and other materials as it deems appropriate; (11) To organize, conduct, or sponsor special institutes, conferences, demonstrations, and studies to effectuate the purposes of KRS 154.12-204 to 154.12-208; and (12) To certify or decertify skills training providers, both public and private, including their teachers and instructors as approved providers of skills training services for a grant-in-aid. Effective: July 14, 2018 History: Amended 2018 Ky. Acts ch. 199, sec. 13, effective July 14, 2018. -- Amended 1996 Ky. Acts ch. 194, sec. 19, effective July 15, 1996. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 392, effective July 13,1990. -- Created 1984 Ky. Acts ch. 211, sec. 3, effective July 13, 1984. Formerly codified as KRS 157.730
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