Kentucky Statutes 136.570 – Penalties — Limitation on administrative or court proceedings by delinquent financial institutions
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(1) Penalties shall be assessed in accordance with KRS § 131.180.
(2) Any financial institution subject to the annual franchise tax imposed by KRS
136.505 that fails to file a return as required by KRS § 136.545 or that fails to pay the tax as listed on the return shall not maintain an action, suit, or proceeding in any court or before any agency in this Commonwealth or enforce in any way any obligation of any debts until the return is filed and the tax listed on the return is paid.
Effective: July 15, 1996
History: Created 1996 Ky. Acts ch. 254, sec. 16, effective July 15, 1996.
(2) Any financial institution subject to the annual franchise tax imposed by KRS
Terms Used In Kentucky Statutes 136.570
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
136.505 that fails to file a return as required by KRS § 136.545 or that fails to pay the tax as listed on the return shall not maintain an action, suit, or proceeding in any court or before any agency in this Commonwealth or enforce in any way any obligation of any debts until the return is filed and the tax listed on the return is paid.
Effective: July 15, 1996
History: Created 1996 Ky. Acts ch. 254, sec. 16, effective July 15, 1996.