164A.325 Additional powers of board as to savings plan trust. In addition to effectuating and carrying out all of the powers granted by KRS 164A.300 to <br>164A.380, the board, as trustee, shall have all powers necessary to carry out and <br>effectuate the purposes, objectives, and provisions of KRS 164A.300 to 164A.380 <br>pertaining to the savings plan trust, including, but not limited to, the power to: <br>(1) Engage investment advisors to assist in the investment of savings plan trust assets; <br>(2) Carry out studies and projections in order to advise participants regarding present and estimated future higher education costs and levels of financial participation in <br>the trust required in order to enable participants to achieve their educational funding <br>objectives; (3) Contract, in accordance with the provisions of KRS 45A.345 to 45A.460 under KRS 45A.343, for goods and services and engage personnel as necessary, including <br>consultants, actuaries, managers, counsel, and auditors for the purpose of rendering <br>professional, managerial, and technical assistance and advice, all of which contract <br>obligations and services shall be payable from any moneys of the trust; (4) Participate in any other way in any federal, state, or local governmental program for the benefit of the savings plan trust; (5) Promulgate, impose, and collect administrative fees and charges in connection with transactions of the savings plan trust, and provide for reasonable service charges, <br>including penalties for cancellations and late payments in respect of participation <br>agreements; (6) Procure insurance against any loss in connection with the property, assets or activities of the savings plan trust; (7) Administer the funds of the savings plan trust; <br>(8) Procure insurance indemnifying any member of the board from personal loss or accountability arising from liability resulting from a member's action or inaction as <br>a member of the board; and (9) Promulgate reasonable rules and regulations for the administration of the savings plan trust. Effective: July 14, 2000 <br>History: Amended 2000 Ky. Acts ch. 382, sec. 4, effective July 14, 2000. -- Amended 1992 Ky. Acts ch. 190, sec. 6, effective July 14, 1992. -- Amended 1990 Ky. Acts <br>ch. 321, sec. 10, effective July 13, 1990. -- Created 1988 Ky. Acts ch. 88, sec. 6, <br>effective July 15, 1988.
164A.325 Additional powers of board as to savings plan trust. In addition to effectuating and carrying out all of the powers granted by KRS 164A.300 to <br>164A.380, the board, as trustee, shall have all powers necessary to carry out and <br>effectuate the purposes, objectives, and provisions of KRS 164A.300 to 164A.380 <br>pertaining to the savings plan trust, including, but not limited to, the power to: <br>(1) Engage investment advisors to assist in the investment of savings plan trust assets; <br>(2) Carry out studies and projections in order to advise participants regarding present and estimated future higher education costs and levels of financial participation in <br>the trust required in order to enable participants to achieve their educational funding <br>objectives; (3) Contract, in accordance with the provisions of KRS 45A.345 to 45A.460 under KRS 45A.343, for goods and services and engage personnel as necessary, including <br>consultants, actuaries, managers, counsel, and auditors for the purpose of rendering <br>professional, managerial, and technical assistance and advice, all of which contract <br>obligations and services shall be payable from any moneys of the trust; (4) Participate in any other way in any federal, state, or local governmental program for the benefit of the savings plan trust; (5) Promulgate, impose, and collect administrative fees and charges in connection with transactions of the savings plan trust, and provide for reasonable service charges, <br>including penalties for cancellations and late payments in respect of participation <br>agreements; (6) Procure insurance against any loss in connection with the property, assets or activities of the savings plan trust; (7) Administer the funds of the savings plan trust; <br>(8) Procure insurance indemnifying any member of the board from personal loss or accountability arising from liability resulting from a member's action or inaction as <br>a member of the board; and (9) Promulgate reasonable rules and regulations for the administration of the savings plan trust. Effective: July 14, 2000 <br>History: Amended 2000 Ky. Acts ch. 382, sec. 4, effective July 14, 2000. -- Amended 1992 Ky. Acts ch. 190, sec. 6, effective July 14, 1992. -- Amended 1990 Ky. Acts <br>ch. 321, sec. 10, effective July 13, 1990. -- Created 1988 Ky. Acts ch. 88, sec. 6, <br>effective July 15, 1988.
164A.325 Additional powers of board as to savings plan trust. In addition to effectuating and carrying out all of the powers granted by KRS 164A.300 to <br>164A.380, the board, as trustee, shall have all powers necessary to carry out and <br>effectuate the purposes, objectives, and provisions of KRS 164A.300 to 164A.380 <br>pertaining to the savings plan trust, including, but not limited to, the power to: <br>(1) Engage investment advisors to assist in the investment of savings plan trust assets; <br>(2) Carry out studies and projections in order to advise participants regarding present and estimated future higher education costs and levels of financial participation in <br>the trust required in order to enable participants to achieve their educational funding <br>objectives; (3) Contract, in accordance with the provisions of KRS 45A.345 to 45A.460 under KRS 45A.343, for goods and services and engage personnel as necessary, including <br>consultants, actuaries, managers, counsel, and auditors for the purpose of rendering <br>professional, managerial, and technical assistance and advice, all of which contract <br>obligations and services shall be payable from any moneys of the trust; (4) Participate in any other way in any federal, state, or local governmental program for the benefit of the savings plan trust; (5) Promulgate, impose, and collect administrative fees and charges in connection with transactions of the savings plan trust, and provide for reasonable service charges, <br>including penalties for cancellations and late payments in respect of participation <br>agreements; (6) Procure insurance against any loss in connection with the property, assets or activities of the savings plan trust; (7) Administer the funds of the savings plan trust; <br>(8) Procure insurance indemnifying any member of the board from personal loss or accountability arising from liability resulting from a member's action or inaction as <br>a member of the board; and (9) Promulgate reasonable rules and regulations for the administration of the savings plan trust. Effective: July 14, 2000 <br>History: Amended 2000 Ky. Acts ch. 382, sec. 4, effective July 14, 2000. -- Amended 1992 Ky. Acts ch. 190, sec. 6, effective July 14, 1992. -- Amended 1990 Ky. Acts <br>ch. 321, sec. 10, effective July 13, 1990. -- Created 1988 Ky. Acts ch. 88, sec. 6, <br>effective July 15, 1988.
