Kentucky Statutes 286.6-085 – Incidental powers
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A credit union may exercise such incidental powers as are granted corporations organized under the laws of this state, including such as are convenient or useful to enable it to promote and carry on most effectively its purposes.
Effective: July 13, 1984
History: Created 1984 Ky. Acts ch. 408, sec. 9, effective July 13, 1984.
Formerly codified as KRS § 290.085.
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 13, 1984
Terms Used In Kentucky Statutes 286.6-085
- 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.
History: Created 1984 Ky. Acts ch. 408, sec. 9, effective July 13, 1984.
Formerly codified as KRS § 290.085.
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.