Whenever the administrative law judge considers it expedient, any lump sum which is paid as provided in this chapter shall be paid to any suitable person appointed by the District Court of the county of the residence of the injured employee or of his dependents as trustee to administer or apply the same for the benefit of the person or persons entitled thereto. The receipt of such trustee for the amount so paid to him shall discharge the employer and his insurer. Except as otherwise herein specifically provided, the manner of qualification and the rights, duties, and liabilities of the trustee shall be determined by the general laws of this state.
Effective: December 12, 1996
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Terms Used In Kentucky Statutes 342.155

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Person: means any individual, partnership, limited partnership, limited liability company, firm, association, trust, joint venture, corporation, or legal representative thereof. See Kentucky Statutes 342.0011
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • Trustee: A person or institution holding and administering property in trust.

History: Amended 1996 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 73, effective December
12, 1996. — Amended 1987 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 19, effective, January 4, 1988. — Amended 1980 Ky. Acts ch. 104, sec. 7, effective July 15, 1980. –
– Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4908.

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