Kentucky Statutes 286.6-495 – Line of credit
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Upon written application by a member, the credit committee or credit manager may approve a self-replenishing line of credit, and loan advances may be granted to the member within the limit of such line of credit. Where a line of credit has been approved, no additional loan application is required as long as the aggregate indebtedness does not exceed the approved limit.
Effective: July 13, 1984
History: Created 1984 Ky. Acts ch. 408, sec. 50, effective July 13, 1984.
Formerly codified as KRS § 290.495.
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 286.6-495
- Statute: A law passed by a legislature.
History: Created 1984 Ky. Acts ch. 408, sec. 50, effective July 13, 1984.
Formerly codified as KRS § 290.495.
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.