If at any time there shall not be sufficient money in such pension fund to pay each person entitled to the benefit thereof the amount per month as herein provided, then an equal percentage of each monthly payment shall be made to each beneficiary until the said fund shall be replenished to warrant the payment in full to each of said beneficiaries.
History: Created 1942 Ky. Acts ch. 9, sec. 15.

Terms Used In Kentucky Statutes 95.774

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Month: means calendar month. See Kentucky Statutes 446.010
  Previous section
Next section  
 Chapter 95 Contents