The Office of General Counsel is also responsible for managing the process of obtaining any external court or administrative agency approvals that may be required by applicable law for a settlement to become effective.
Reporting of Settlements to the Board of Regents
The President and the General Counsel shall consult with the Board, or in some cases the Board's Executive Committee, regarding proposed settlements that exceed the $300,000 threshold. The Board or Executive Committee may discuss the proposed settlement in a closed or executive session. However, the Board must approve and announce any action taken in an open session.
The President and General Counsel must make timely written reports to the Board regarding recently finalized settlements of disputed claims. These reports shall also include information on other types of agreements involving a release of legal claims where no formal litigation was filed or threatened, such as certain employee separation agreements. While the Board may review these written reports outside of meetings, regents may not discuss the reports with one another except during a public meeting. Pursuant to the Kentucky Open Meetings Act, discussions of finalized settlements or separation agreements may only be discussed in an open session of a meeting.
REFERENCES AND RELATED MATERIALS:
The Gold Book: Bylaws of the Kentucky State University Board of Regents