Ky. Rev. Stat. Ann. ch. 164A – Higher Education Finance | Midpage

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Kentucky Revised Statutes

Chapter 164A

Ky. Rev. Stat. Ann. ch. 164A

Higher Education Finance

Commonwealth of Kentucky

164A.010Findings -- Determinations -- Intent.164A.011Plans for organization and operation of corporation and of Kentucky Higher Education Assistance Authority -- Code of ethics.164A.020Definitions.164A.030Corporation is de jure municipal corporation and political subdivision.164A.040Purpose.164A.050Kentucky Higher Education Student Loan Corporation -- Establishment -- Organization -- Terms -- Duties -- Removal -- Expenses -- Relationship with other educational entities.164A.055Asset Resolution Corporation -- Purpose -- Powers -- Compensation.164A.060Powers of corporation.164A.065Powers of corporation as to supplemental student loans.164A.070Status of obligations issued by corporation.164A.080Bond issue -- Amount -- Interest -- Use of proceeds -- Approval of General Assembly required for certain bond or note issuances -- Exception.164A.090Trust agreements authorized.164A.100Pledge of assets or revenues of corporation.164A.110All moneys received deemed trust funds.164A.120Rights of holders of obligations.164A.130Obligations issued under chapter are negotiable instruments.164A.140Public agencies, political subdivisions and others may invest in the securities issued by the corporation.164A.150Issuance of refunding obligations.164A.160Reserve or replacement funds.164A.170Annual report and audit.164A.180Exemption from personal liability.164A.190Acceptance of and expenditure of moneys received from General Assembly.164A.200Corporation exempt from taxation -- Interest on bonds issued by corporation may be subject to federal income taxation.164A.210Conflicts of interest.164A.220Chapter deemed supplemental to other laws.164A.230Dissolution of corporation.164A.240"Eligible borrower" defined -- Additional student loans permitted -- Garnishment -- Administrative regulations -- Bonds to finance loans -- Maximum annual loan amount.164A.250Student loan forgiveness program for graduates in energy-related fields.164A.260STABLE Kentucky account.164A.300Legislative findings and intent.164A.305Definitions for KRS 164A.300 to 164A.380.164A.310Kentucky Educational Savings Plan Trust -- Powers of board.164A.325Additional powers of board as to savings plan trust.164A.330Participation agreements for savings plan trust -- Confidentiality of information.164A.335Program and administrative funds for savings plan trust -- Investment and payments from funds.164A.350Ownership of contributions and interest -- Cancellation of participation agreement -- Transfer of ownership rights -- Penalty on earnings refunded due to cancellation or nondistribution -- Exemption from creditor's execution.164A.355Effect of payments on determination of need and eligibility for student aid.164A.365Annual audited financial report to Governor, General Assembly, and State Auditor.164A.370Tax exemption.164A.375Property rights to assets in trust.164A.380Liberal construction.164A.550Definitions for KRS 164A.555 to 164A.630.164A.555Transfer of funds to institutions.164A.560Election by institution to perform in accordance with KRS 164A.555 to 164A.630.164A.565Accrual basis accounting system -- Other records -- Annual report -- Budgets, financial statements, and meetings information to be publicly available on Web site.164A.570Annual audit.164A.575Purchasing -- Inventories -- Lease renewals -- Sales of surplus property -- Bidding procedures -- Kentucky-grown agricultural products -- Reports -- Capital construction projects and equipment not listed in budget bill -- Reciprocal preference for resident bidders -- Reverse auctions.164A.577Private loss insurance or self-insurance pool option -- Requirements -- Resumption of state insurance coverage -- Annual inspection -- Coverage requirements and minimums.164A.580Management of capital construction projects.164A.585Contracting for capital construction projects -- Items considered equal to specifications may be furnished.164A.590Contracting for architectural and engineering services.164A.595Carrying out of capital construction projects.164A.600Procedures and limitations of KRS 45.750 through 45.800 and KRS Chapter 45A apply -- Projects limited to scope authorized by General Assembly.164A.605Procedures and limitations on issuance of consolidated educational building revenue bonds, housing bonds, or bond anticipation notes.164A.608Interception of appropriated funds when institution is unable to make bond payments -- Action by governing board to generate additional revenues.164A.610Organization and operation of affiliated corporations.164A.615Acceptance of gifts -- Awarding of scholarships, grants, etc.164A.620Fund for excellence.164A.625Severability clause.164A.630Statutes binding the board.164A.700Definitions for KRS 164A.700 to 164A.709.164A.701Commonwealth postsecondary education prepaid tuition trust fund -- Prepaid postsecondary tuition administrative account.164A.704Duties of board.164A.705Obligations of fund and of purchaser or qualified beneficiary -- Limitation of liability -- Use of tuition account.164A.707Prepaid tuition contracts -- Amendments -- Accounts not subject to creditors or taxes -- No guarantee of attendance at institution -- Payment of contracts -- Beneficiaries -- Investments and earnings -- Contracts not securities or annuities -- Contracts subject to amendment by subsequent change to statute, regulation, or policy.164A.708Prepaid tuition contracts entered into before and after April 25, 2006 -- Obligations of the Commonwealth.164A.709Termination of prepaid tuition contract or account -- Transfer of funds -- Operations of Commonwealth postsecondary education prepaid tuition trust fund and the Tuition Account Program Office to end on June 30, 2030.164A.800Creation of fund.164A.805Board of trustees -- Appointment -- Terms -- General powers.164A.810Funds -- Deposit -- Investment -- Purpose.164A.815Records -- Reports.164A.820Use of fund -- Separate budget required.164A.830Revenue bonds -- University of Kentucky may issue.164A.840Source of funds.