61.660 Custodian of funds -- Cash and securities.

148 words·~1 min read·/ky/chapter-61/61-660

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

(1)The State Treasurer shall be the custodian of the funds received under

authority of KRS 61.510 to 61.705, 16.510 to 16.652 and 78.510 to 78.852 and

shall be responsible for the safekeeping of all cash and securities in his

custody. All payments from the fund shall be made by him on warrants issued

by the Finance and Administration Cabinet. Payments may be in the form of

checks, which shall clearly show on the envelope or other mailing device the

name and address of the Kentucky Retirement Systems, County Employees

Retirement System, or direct deposit bank transfers.

(2)The Kentucky Public Pensions Authority shall appoint a custodian or

custodians of the cash and securities acquired under authority of KRS 61.510

to 61.705, 16.510 to 16.652, and 78.510 to 78.852; and the custodian or

custodians shall be responsible for the safekeeping of all cash and securities in

its custody.