Ky. Rev. Stat. § 342.1221

Current through 2024 Ky. Acts ch. 225

Section 342.1221 - Penalty and interest on late payment of assessments and expenses - Waiver

Assessments levied and expenses owed pursuant to KRS 342.122, 342.1242, and 342.1243 and unpaid on the date on which they are due and payable shall bear interest at the rate specified in KRS 131.183 plus a penalty of one and one-half percent (1.5%) per month or portion thereof without proration from the date on which the assessment or expenses are due and payable. The funding commission shall have the authority to waive part or all of the penalty, but not the interest, where it is shown to the satisfaction of the commission that failure to timely pay assessments is due to reasonable cause. This authority shall extend to the coal workers' pneumoconiosis fund until it ceases to exist.

KRS 342.1221

Amended by 2018 Ky. Acts ch. 54,§ 3, eff. 7/14/2018.

Effective:4/4/1994
Amended 1994 Ky. Acts ch. 181, Part 10, sec. 34, effective4/4/1994. --Created 1987 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 14, effective 10/26/1987.