Kentucky Statutes 286.3-460 – Duties of examiners
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In examinations under KRS § 286.3-450 the examining officer shall investigate:
(1) The cash, bills, collateral, securities, other assets, books of account, and all other papers and books of the bank or trust company;
(2) The condition and resources of the bank, the mode of conducting and managing its affairs, the actions of its directors, the investment and disposition of its funds, the safety and prudence of its management and the security afforded to those by whom its engagements are held;
(3) Whether the requirements of its charter and of the laws of this state have been complied with in the administration of its affairs; and
(4) Such other matters as the commissioner deems necessary.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 640, effective July 15, 2010. — Amended
1984 Ky. Acts ch. 324, sec. 32, effective July 13, 1984. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 165a-8.
Formerly codified as KRS § 287.460.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.
(1) The cash, bills, collateral, securities, other assets, books of account, and all other papers and books of the bank or trust company;
Terms Used In Kentucky Statutes 286.3-460
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commissioner: means the commissioner of financial institutions. See Kentucky Statutes 286.3-010
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
- Trust company: includes every corporation authorized by this subtitle to do a trust business. See Kentucky Statutes 286.3-010
(2) The condition and resources of the bank, the mode of conducting and managing its affairs, the actions of its directors, the investment and disposition of its funds, the safety and prudence of its management and the security afforded to those by whom its engagements are held;
(3) Whether the requirements of its charter and of the laws of this state have been complied with in the administration of its affairs; and
(4) Such other matters as the commissioner deems necessary.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 640, effective July 15, 2010. — Amended
1984 Ky. Acts ch. 324, sec. 32, effective July 13, 1984. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 165a-8.
Formerly codified as KRS § 287.460.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.