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Code · Kentucky · Chapter 164A — Higher education finance

164A.375 Property rights to assets in trust.

71 words·~1 min read·/ky/chapter-164a/164a-375

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

The assets of the trust, including the program fund, shall at all times be preserved, invested and expended solely and only for the purposes of the trust and shall be held in trust for the participants and beneficiaries and no property rights therein shall exist in favor of the Commonwealth. The assets shall not be transferred or used by the Commonwealth for any purposes other than the purposes of the trust.
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