Kentucky Statutes 286.6-045 – Use of name exclusive
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No person, corporation, partnership or association, other than a legally chartered credit union, an association of credit unions, or an organization, corporation, or association whose membership or ownership is primarily confined or restricted to credit unions or credit union organizations, may use a name or title containing the phrase “credit union” or any derivation thereof, represent itself as a credit union, or conduct business as a credit union.
Effective: July 13, 1984
History: Created 1984 Ky. Acts ch. 408, sec. 5, effective July 13, 1984.
Formerly codified as KRS § 290.045.
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 286.6-045
- 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
- 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
- Person: means a natural person, or any type or form of corporation, company, partnership, proprietorship, association, or other legal entity. See Kentucky Statutes 286.1-010
- Statute: A law passed by a legislature.
History: Created 1984 Ky. Acts ch. 408, sec. 5, effective July 13, 1984.
Formerly codified as KRS § 290.045.
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.