Kentucky Statutes 286.5-271 – Inspection of books — Records confidential — Exception
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(1) Every member shall have the right to inspect such books and records of an association as pertain to his loan or savings account. Otherwise, the right of inspection and examination of the books and records shall be limited:
(a) To the commissioner or the commissioner’s duly authorized representatives as provided in this subtitle;
(b) To persons duly authorized to act for the association; and
(c) To any federal instrumentality or agency authorized to inspect or examine the books and records of an insured association.
(2) Except as otherwise authorized by KRS § 205.835, the books and records pertaining to the accounts and loans of members shall be kept confidential by the association, its directors, officers and employees, and by the commissioner and the commissioner’s examiners and representatives, except where the disclosure thereof shall be compelled by a court of competent jurisdiction, and no member or any other person shall have access to the books and records or shall be furnished or shall possess a partial or complete list of the members except upon express action and authority of the board of directors.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 691, effective July 15, 2010. — Amended
1986 Ky. Acts ch. 286, sec. 4, effective July 15, 1986. — Created 1964 Ky. Acts ch.
138, sec. 8, effective June 18, 1964.
Formerly codified as KRS § 289.271.
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.
(a) To the commissioner or the commissioner’s duly authorized representatives as provided in this subtitle;
Terms Used In Kentucky Statutes 286.5-271
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Association: means a savings and loan association subject to the provisions of this subtitle and as used in KRS §. See Kentucky Statutes 286.5-011
- Commissioner: means the commissioner of financial institutions. See Kentucky Statutes 286.5-011
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Member: means a person holding a savings account or a savings certificate of an
association, or a person borrowing from or assuming or obligated upon a loan or interest therein held by an association, or purchasing property securing a loan or interest therein held by an association. See Kentucky Statutes 286.5-011 - Person: means a natural person, or any type or form of corporation, company, partnership, proprietorship, association, or other legal entity. See Kentucky Statutes 286.1-010
- Savings account: means that part of the savings liability of the association which is
credited to the account of the holders thereof. See Kentucky Statutes 286.5-011 - Statute: A law passed by a legislature.
(b) To persons duly authorized to act for the association; and
(c) To any federal instrumentality or agency authorized to inspect or examine the books and records of an insured association.
(2) Except as otherwise authorized by KRS § 205.835, the books and records pertaining to the accounts and loans of members shall be kept confidential by the association, its directors, officers and employees, and by the commissioner and the commissioner’s examiners and representatives, except where the disclosure thereof shall be compelled by a court of competent jurisdiction, and no member or any other person shall have access to the books and records or shall be furnished or shall possess a partial or complete list of the members except upon express action and authority of the board of directors.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 691, effective July 15, 2010. — Amended
1986 Ky. Acts ch. 286, sec. 4, effective July 15, 1986. — Created 1964 Ky. Acts ch.
138, sec. 8, effective June 18, 1964.
Formerly codified as KRS § 289.271.
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.