165A.380 Disposition of fees -- Trust and agency account.
100 words·~1 min read·
/ky/chapter-165a/165a-380A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)All fees collected pursuant to this chapter, except those collected pursuant to KRS
165A.450, shall be deposited in the State Treasury in a trust and agency account of
the Kentucky Commission on Proprietary Education and shall be used by the
commission to defray the cost of administering and enforcing this chapter.
(2)Notwithstanding KRS 45.229, any moneys remaining in the account at the end of
the fiscal year shall not lapse but shall be carried forward to the next fiscal year.
(3)Any interest earnings of the account shall become a part of the account and shall not
lapse.