Kentucky Statutes 286.5-281 – Membership, withdrawal, fees — Fines
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The association may charge any membership, admission, withdrawal, or any other fee or sum of money for the privilege of becoming, remaining, or ceasing to be a member of the association. The association may charge a member any sum of money by the way of fine or penalty against borrowers for defaults or in payment of loans.
Effective: June 18, 1964
History: Created 1964 Ky. Acts ch. 138, sec. 7, effective June 18, 1964.
Formerly codified as KRS § 289.281.
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.
Effective: June 18, 1964
Terms Used In Kentucky Statutes 286.5-281
- 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
- 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 - Statute: A law passed by a legislature.
History: Created 1964 Ky. Acts ch. 138, sec. 7, effective June 18, 1964.
Formerly codified as KRS § 289.281.
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.