56.150 Expenses of administration.

128 words·~1 min read·/ky/chapter-56/56-150

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

(1)The cabinet and the State Treasurer may employ such assistance and incur such

expenses as are necessary to carry out the purposes of KRS 56.065 to 56.180.

(2)All such expenses may be debited against the Commonwealth's property and

casualty insurance fund, and paid on warrant of the cabinet, but the total of such

expenses during any fiscal year shall not exceed ten percent (10%) of the total

receipts of the fund during the same fiscal year.

(3)If such expenses are incurred at a time when there is not a sufficient amount in the

fund to pay them, they shall constitute a prior claim to be paid out of the first

receipts of the fund thereafter before any damages on account of insured losses are

paid.