03RS SB10


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SB 10 (BR 252) - R. Palmer II, W. Blevins, D. Boswell, P. Herron Jr, B. Jackson, R. Jones II, D. Karem, D. Mongiardo, G. Neal, J. Pendleton, L. Saunders, E. Scorsone, T. Shaughnessy, J. Turner, E. Worley

     AN ACT relating to financial practices.
     Amend KRS 517.050 to provide that falsifying business records is a Class misdemeanor if the business enterprise has assets valued at less than one million dollars ($1,000,000) and a Class D felony if the assets are valued at one million dollars ($1,000,000) or more; amend KRS 367.175 to prohibit the knowing and inaccurate written descriptions of the financial condition of a business or corporation; create a new section of KRS 42.400 to 42.420 to establish certain investment principles for financial organizations that provide investment banking services and money management firms retained by the Commonwealth of Kentucky; amend KRS 66.480 to require the written investment policy of a local government or political subdivision to include standards that comply with the investment principles in Section 3 of this Act; amend KRS 271B.14-300 to allow the Circuit Court to dissolve a corporation in a proceeding by the Attorney General if the corporation has been convicted of a felony or has had its authority to conduct business revoked in another jurisdiction; create a new section of KRS 434.320 to 434.340 to require a broker annually to give to each client for whom the broker has made an investment in the preceding twelve (12) months a copy of the Investor Bill of Rights; establish the Investor Bill of Rights and allow it to be provided electronically or in a hard copy.

     (Prefiled by the sponsor(s))

     Jan 7-introduced in Senate
     Jan 10-to Judiciary (S)

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