State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 131-00 > 620

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Page 1 of 1 131.620 Proof of qualified escrow fund. (1) The Attorney General may, at any time, require from the nonparticipating manufacturer proof from the financial institution in which the manufacturer has <br>established a qualified escrow fund, for the purpose of compliance with KRS <br>131.600 and 131.602, of the amount of money in the fund, exclusive of interest, the <br>amount and date of each deposit to the fund, and the amount and date of each <br>withdrawal from the fund. (2) To promote compliance with the provisions of KRS 131.602, the Attorney General may promulgate regulations requiring a nonparticipating manufacturer subject to the <br>requirements of KRS 131.602 to make the escrow deposits required in quarterly <br>installments during the year in which the sales covered by such deposits are made. <br>The Attorney General may require production of information sufficient to enable <br>the Attorney General to determine the adequacy of the amount of the installment <br>deposit. Effective: July 13, 2004 <br>History: Amended 2004 Ky. Acts ch. 135, sec. 3, effective July 13, 2004. -- Created 2003 Ky. Acts ch. 194, sec. 9, effective April 6, 2003.