State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 041-00 > 230

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</p> <p>41.230 Charges for services by depositories &#8212; Interest on deposits.<br /> For services rendered by the depositories compensation shall be made in the forms of a <br />predetermined fee or a predetermined compensating balance. The depositories shall each <br />pay to the state, in proportion to the deposits received, interest at such rate per annum <br />upon the average daily deposit on hand at the close of business hours as is agreed upon <br />between the Treasurer and the depositories, consistent with the regulations promulgated <br />by the State Investment Commission pursuant to KRS 42.525. The interest shall be paid <br />to the Treasurer at the end of each six (6) months or upon maturity commencing with the <br />date of the deposit.<br /> Effective: July 15, 1982 <br />History: Amended 1982 Ky. Acts ch. 382, sec. 2, effective July 15, 1982. &#8212; Recodified<br /> 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4692. </p> <p>