There is a newer version of this Section
2022
2021
2020 (you are here)
2019
2018
Other previous versions
View our newest version here

2020 Kentucky Revised Statutes
Chapter 292 - Securities (blue sky law)
292.322 Securities fraud prosecution and prevention fund.

Universal Citation: KY Rev Stat § 292.322 (2020)
Previous Next

Download as PDF
292.322 Securities fraud prosecution and prevention fund. (1) (2) (3) (4) (5) (6) There is hereby created in the State Treasury a trust and revolving fund designated as the "securities fraud prosecution and prevention fund." The commissioner may designate that all or a portion of the civil fines imposed for violations of this chapter or administrative regulations, or orders issued pursuant to this chapter, be deposited into the fund established in subsection (1) of this section. The fund established by subsection (1) of this section may also receive additional state appropriations, gifts, grants, and federal funds. Expenditures from the fund established by subsection (1) of this section may be used to assist in criminal prosecution of fraudulent activities under this chapter, for training and equipment related to prevention, detection, and investigation of securities fraud, and for investor education. The money deposited into the fund is hereby appropriated for the uses set forth in subsection (4) of this section. Notwithstanding KRS 45.229, any money remaining in the fund at the close of any calendar year shall not lapse but shall be carried forward to the next calendar year. All interest earned on money in the fund shall be credited to the fund. The commissioner is responsible for the distribution of moneys in the fund and shall, in consultation with the Attorney General and local prosecutors, develop and promulgate administrative regulations for the use of those moneys. Effective: July 15, 2010 History: Created 2010 Ky. Acts ch. 82, sec. 16, effective July 15, 2010. Legislative Research Commission Note (7/15/2010). References to the "executive director" of financial institutions in subsections (2) and (6) of this section, as created by 2010 Ky. Acts ch. 82, sec. 16, have been changed in codification to the "commissioner" of financial institutions to reflect the reorganization of certain parts of the Executive Branch, as set forth in Executive Orders 2009-535 and 2009-1086 and confirmed by the General Assembly in 2010 Ky. Acts ch. 24. These changes were made by the Reviser of Statutes pursuant to 2010 Ky. Acts ch. 24, sec. 1938.
Previous Next
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.