Proceedings taken by the University of Louisville, through action of its board of trustees, in qualifying to receive the benefits of its status as a state institution, as provided in subsection (3) of KRS 164.810 shall vest in the Commonwealth for the use and benefit of the University of Louisville (without execution and recording of any instruments of conveyance) title to all property which may be vested in the University of Louisville at the date such qualifying action is perfected according to law. The t itle so vested in the Commonwealth for the use and benefit of the University of Louisville shall be such title as the University of Louisville may own at that time, and shall be subject to such liens and encumbrances as may then exist thereon. Real propert y thereafter acquired by the University of Louisville or for its use and benefit shall be in accordance with the provisions of KRS 56.020 to 56.060; and any such acquisition of real property, and all dispositions of real property of the university, shall b e subject to the provisions of KRS 56.440 to 56.520. Personal property thereafter acquired by the University of Louisville or for its use and benefit shall be in accordance with provisions of KRS 164.830.
‹ Prev All Kentucky sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.