Kentucky Statutes 98.160 – Appointment of new commission or continuance of old commission
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(1) If a commission is in existence at the time a bond issue is authorized, the commission and its successors shall continue any work provided for in KRS § 98.040 to KRS § 98.170, and shall have all the rights granted to the commission in the first instance. All of its property of every kind shall be vested in it as a corporation and the corporation shall be a continuance of the corporation then existing under any former act of the general assembly theretofore passed.
(2) If no commission exists at the time any bond issue is authorized, a new commission may be appointed and the provisions of KRS § 98.040 to KRS § 98.170 shall apply to each new issue of bonds and to each new commission and the continuance of the work of the commission and to the carrying out of the work of KRS § 98.040 to KRS § 98.170, the same as in the first instance.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 3037e-12, 3037e-13.
(2) If no commission exists at the time any bond issue is authorized, a new commission may be appointed and the provisions of KRS § 98.040 to KRS § 98.170 shall apply to each new issue of bonds and to each new commission and the continuance of the work of the commission and to the carrying out of the work of KRS § 98.040 to KRS § 98.170, the same as in the first instance.
Terms Used In Kentucky Statutes 98.160
- Continuance: Putting off of a hearing ot trial until a later time.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 3037e-12, 3037e-13.