1. (1) For tax periods beginning prior to January 1, 2007, the reports required by KRS 138.240 shall be accompanied by a certified or cashier's check, payable to the State Treasurer, for the amount of tax due for the preceding calendar month, computed as provided in KRS 138.270; except that the department may waive this requirement and accept the dealer's check or allow for remittance of the tax owed to the department by electronic fund transfer where the dealer is of sound financial condition and has established a good record of compliance with the requirements of KRS 138.210 to 138.340.
2. (2) By virtue of the allowance provided by KRS 138.270 to dealers for collecting and remitting the tax, every dealer is a trust officer of the state.

Effective: July 15, 2010

History: Amended 2010 Ky. Acts ch. 147, sec. 7, effective July 15, 2010. -- Amended 2006 Ky. Acts ch. 188, sec. 2, effective July 12, 2006. -- Amended 2005 Ky. Acts ch. 85, sec. 362, effective June 20, 2005; and ch. 134, sec. 4, effective June 20, 2005. -- Amended 1950 Ky. Acts ch. 24, sec. 2. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4281g-10, 4281g-12. Legislative Research Commission Note (6/20/2005). Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123 and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section.