If the trustee or other person having the administration or distribution of the property or effects continues to operate the business, he shall, at the end of each calendar month, after payment of current expenses and any debt due the United States or this state, distribute the remaining money in his hands pro rata among the persons to whom a lien is given by KRS 376.150 and 376.180, except twenty percent (20%) thereof which he may, if necessary, reserve for contingent expenses.
KRS 376.170
Distribution of income when operation of property is continued
Applied in 1 court decision — leading case Non-Marine Underwriters at Lloyd's London v. Carrs Fork Coal Co. (1967)
Most recently applied in Non-Marine Underwriters at Lloyd's London v. Carrs Fork Coal Co. (December 1967)
Effective: October 1, 1942 History: Recodified 1942 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.