School insurer paid millions in royalties
LEXINGTON, Ky. (AP) — A published report says the Kentucky School Board Insurance Trust paid millions in royalties to the Kentucky School Boards Association over several years before announcing last month that it would disband due to financial woes.
School districts around the state are now trying to come up with some $60 million to pay off the trust's deficit.
For decades, the Kentucky School Boards Association administered the trust and profits were used to subsidize...
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