Kentucky Statutes 286.5-690 – Commissioner and examiners to have no interest in association
Current as of: 2024 | Check for updates
|
Other versions
The commissioner and examiners shall not be interested in an association, directly or indirectly, either as creditor (except that each may be a savings account holder and receive dividends thereon), director, officer, employee, borrower, trustee or attorney, nor shall any one (1) of them receive, directly or indirectly, any payment, compensation or gratuity from any association.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 700, effective July 15, 2010. — Created
1964 Ky. Acts ch. 138, sec. 48, effective June 18, 1964.
Formerly codified as KRS § 289.690.
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: July 15, 2010
Terms Used In Kentucky Statutes 286.5-690
- 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
- Attorney: means attorney-at-law. See Kentucky Statutes 446.010
- Commissioner: means the commissioner of financial institutions. See Kentucky Statutes 286.5-011
- 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.
- Trustee: A person or institution holding and administering property in trust.
History: Amended 2010 Ky. Acts ch. 24, sec. 700, effective July 15, 2010. — Created
1964 Ky. Acts ch. 138, sec. 48, effective June 18, 1964.
Formerly codified as KRS § 289.690.
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.