(1) Claims for payment of a bonus shall not be assignable before or after approval thereof, and any attempted or purported assignment received by or tendered to any officer of the Commonwealth shall be void, need not be acknowledged or returned, and may be disregarded.
(2) Payments of the bonus shall be exempt from all taxation by the Commonwealth, its political subdivisions and taxing districts.
(3) No claim for payment of a bonus and no payment made by the Commonwealth under KRS 40.410 to 40.560 shall give rise to a cause of action against the Commonwealth or any of its officers, agents, or employees, and no claim for payment shall be subject to attachment, levy, garnishment or seizure by or under any legal or equitable process whatever; but this provision shall not extend exemption from legal process to the proceeds of any bonus payment after the same has been received from the Commonwealth.
(4) The Commonwealth does not consent to be sued in any court with regard to any matter connected with or arising out of claims for payment of the bonus herein authorized.