Kentucky Statutes 286.6-055 – Office facilities
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(1) A credit union may change its principal place of business within this state upon written authorization by the commissioner. If the commissioner has not notified a credit union of his or her action on an application to change the place of business within fifteen (15) calendar days of the date the application was received by the commissioner, the credit union may proceed with the change in its place of business.
(2) A credit union may maintain service facilities, including automated teller machines, at locations other than its principal office upon written authorization by the commissioner or as permitted by administrative regulation. The maintenance of these facilities must be reasonably necessary to furnish service to its members.
(3) A credit union may join with one (1) or more credit unions in the operation of a service facility to meet member needs, including an automated teller machine, upon written authorization by the commissioner or as permitted by administrative regulation.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 719, effective July 15, 2010. — Amended
2000 Ky. Acts ch. 157, sec. 7, effective July 14, 2000. — Created 1984 Ky. Acts ch.
408, sec. 6, effective July 13, 1984.
Formerly codified as KRS § 290.055.
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.
(2) A credit union may maintain service facilities, including automated teller machines, at locations other than its principal office upon written authorization by the commissioner or as permitted by administrative regulation. The maintenance of these facilities must be reasonably necessary to furnish service to its members.
Terms Used In Kentucky Statutes 286.6-055
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Commissioner: means the commissioner of financial institutions. See Kentucky Statutes 286.6-005
- Credit union: means a cooperative, nonprofit association, incorporated under this subtitle, for the purposes of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition. See Kentucky Statutes 286.6-005
- 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.
(3) A credit union may join with one (1) or more credit unions in the operation of a service facility to meet member needs, including an automated teller machine, upon written authorization by the commissioner or as permitted by administrative regulation.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 719, effective July 15, 2010. — Amended
2000 Ky. Acts ch. 157, sec. 7, effective July 14, 2000. — Created 1984 Ky. Acts ch.
408, sec. 6, effective July 13, 1984.
Formerly codified as KRS § 290.055.
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.