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KRS 304.2-420

Transfer of funds to insurance regulatory trust fund to cover deficiency

Effective: July 15, 1986 History: Created 1986 Ky

When there exists in the insurance regulatory trust fund a deficiency which would render such fund insufficient to meet the department's funding requirements, the secretary of the Finance and Administration Cabinet may order a transfer of moneys from another fund in the State Treasury to the insurance regulatory trust fund in order to meet the deficiency without resorting to the necessity of borrowing money and paying interest thereon. The fund from which any moneys are transferred shall be repaid the amount transferred from it not later than the end of the biennium in which such transfer is made, the date of repayment to be specified in the order of the secretary of the Finance and Administration Cabinet.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.