18A.375 State employee workers' compensation fund. - Kentucky Statutes

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18A.375 State employee workers' compensation fund. (1) There is hereby established a state employee workers' compensation fund which shall be administered by the Personnel Cabinet's Division of Employee Benefits.
The purpose of this fund shall be to self-insure workers' compensation benefits for
state employees. (2) All moneys contributed by participants of the fund, or derived from federal funds, shall be credited to and constitute a part of the state employee workers'
compensation fund. (3) The State Treasurer, with the approval of the Finance and Administration Cabinet, may invest the state employee benefit workers' compensation fund. Any income
derived from these investments, or dividends, shall be credited to and become a part
of the general fund. Any moneys remaining in the fund after all claims, premiums or
subscription charges, and other expenses have been paid, shall be retained in the
fund. All moneys remaining in the state employee workers' compensation fund on
July 1, or deposited thereafter, shall be deemed a trust and agency account and shall
not lapse, but shall be continuously appropriated only for the purposes specified in
KRS 18A.375 to 18A.385. Effective: July 15, 1998
History: Amended 1998 Ky. Acts ch. 154, sec. 52, effective July 15, 1998. -- Amended 1994 Ky. Acts ch. 116, sec. 2, effective July 15, 1994. -- Created 1990 Ky. Acts
ch. 490, sec. 2, effective July 13, 1990.