154A.140 Acceptance and expenditure of moneys by corporation -- Corporation to

151 words·~1 min read·/ky/154a-140

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

be self sustaining and self funded.

(1)The corporation is hereby authorized to accept and expend such moneys as may be

appropriated by the General Assembly or such moneys as may be received from any

source, including income from the corporation's operations, for effectuating its

corporate purposes including, without limitation, the payment of the initial expenses

of administration and operation of the corporation and the lottery.

(2)After the transfer of any appropriated funds provided by subsection

(1)of this

section, the corporation shall be self sustaining and self funded and moneys in the

state general fund shall not be used or obligated to pay the expenses of the

corporation or prizes of the lottery and no claim for the payment of an expense of

the lottery or prizes of the lottery shall be made against any moneys other than

moneys credited to the corporate operating account established by KRS 154A.130.