Kentucky Statutes 286.6-990 – Penalties
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(1) Any credit union that fails to make the report required by KRS § 286.6-090, when notified, shall pay to the department ten dollars ($10) for each day of such failure, unless excused.
(2) Any officer or any member of a committee who participates in the making of a loan to a nonmember shall be fined not less than ten dollars ($10) nor more than one hundred dollars ($100) or imprisoned for not less than thirty (30) days nor more than six (6) months, or both.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 746, effective July 15, 2010. — Amended
1986 Ky. Acts ch. 193, sec. 3, effective July 15, 1986. — Amended 1984 Ky. Acts ch.
408, sec. 67, effective July 13, 1984. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 883g-3, 883g-6, 883g-20.
Formerly codified as KRS § 290.990.
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, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.
(2) Any officer or any member of a committee who participates in the making of a loan to a nonmember shall be fined not less than ten dollars ($10) nor more than one hundred dollars ($100) or imprisoned for not less than thirty (30) days nor more than six (6) months, or both.
Terms Used In Kentucky Statutes 286.6-990
- 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
- Department: means the Department of Financial Institutions. See Kentucky Statutes 286.1-010
- Statute: A law passed by a legislature.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 746, effective July 15, 2010. — Amended
1986 Ky. Acts ch. 193, sec. 3, effective July 15, 1986. — Amended 1984 Ky. Acts ch.
408, sec. 67, effective July 13, 1984. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 883g-3, 883g-6, 883g-20.
Formerly codified as KRS § 290.990.
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, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.