Kentucky Statutes 286.7-580 – Certification of foreign corporations
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No foreign corporation may conduct an industrial loan business in this state without applying for and receiving a certificate from the commissioner authorizing such business in this state. The issuance or denial of such certificate or certificates shall be governed by reasonable rules and regulations of the department designed to assure that no foreign corporation shall be permitted to transact an industrial loan business in this state upon more favorable terms and conditions than would be permitted a domestic corporation.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 759, effective July 15, 2010. — Created
1962 Ky. Acts ch. 166, sec. 13.
Formerly codified as KRS § 291.580.
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 286.7-580
- Commissioner: means the commissioner of the Department of Financial
Institutions. See Kentucky Statutes 286.1-010 - Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Department: means the Department of Financial Institutions. See Kentucky Statutes 286.1-010
- Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
- 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: Amended 2010 Ky. Acts ch. 24, sec. 759, effective July 15, 2010. — Created
1962 Ky. Acts ch. 166, sec. 13.
Formerly codified as KRS § 291.580.
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.