AI-assisted research summary: The State Treasurer must act as custodian of certain funds and protect the cash and securities; the Kentucky Public Pensions Authority must appoint custodian(s) for those assets.
61.660 Custodian of funds -- Cash and securities. (1) The State Treasurer shall be the custodian of the funds received under authority of KRS 61.510 to 61.705, 16.510 to 16.652 and 78.510 to 78.852 and shall be responsible for the safekeeping of all cash and securities in his custody. All payments from the fund shall be made by him on warrants issued by the Finance and Administration Cabinet. Payments may be in the form of checks, which shall clearly show on the envelope or other mailing device the name and address of the Kentucky Retirement Systems, County Employees Retirement System, or direct deposit bank transfers. (2) The Kentucky Public Pensions Authority shall appoint a custodian or custodians of the cash and securities acquired under authority of KRS 61.510 to 61.705, 16.510 to 16.652, and 78.510 to 78.852; and the custodian or custodians shall be responsible for the safekeeping of all cash and securities in its custody. Effective:April 1, 2021 History: Amended 2021 Ky. Acts ch. 102, sec. 68, effective April 1, 2021. -- Amended 2004 Ky. Acts ch. 36, sec. 25, effective July 13, 2004. -- Amended 1992 Ky. Acts ch. 240, sec. 41, effective July 14, 1992. -- Amended 1988 Ky. Acts ch. 349, sec. 26, effective July 15, 1988. -- Amended 1980 Ky. Acts ch. 186, sec. 14, effective July 15, 1980. -- Amended 1976 Ky. Acts ch. 321, sec. 40. -- Amended 1974 Ky. Acts ch. 74, Art. II, sec. 9(1). -- Amended 1972 Ky. Acts ch. 116, sec. 51. -- Amended 1966 Ky. Acts ch. 35, sec. 14. -- Amended 1962 Ky. Acts ch. 58, sec. 21. -- Created 1956 Ky. Acts ch. 110, sec. 31.