Kentucky Statutes 286.6-185 – Confidentiality
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(1) A credit union has a special obligation of confidentiality to its members; therefore, any contrary provisions of KRS Chapter 271B notwithstanding, a credit union shall be obligated to provide a shareholder only names and addresses of its member shareholders.
(2) No officer or director of a credit union or employee of the department shall release any information contained in the report of examination, except so far as necessary in the performance of his official duties as provided by law.
(3) The department may furnish to and exchange information and reports with officials and examiners of other properly authorized state or federal regulatory authorities.
(4) Every official report concerning a credit union and every report of an examination shall be prima facie evidence of the facts therein stated for all purposes in any action in which the department or credit union is a party. Such reports shall not be made public except when required in proper legal proceedings.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 729, effective July 15, 2010. — Amended
1988 Ky Acts ch. 23, sec. 183, effective January 1, 1989 — Amended 1986 Ky. Acts ch. 193, sec. 2, effective July 15, 1986. — Created 1984 Ky. Acts ch. 408, sec. 19, effective July 13, 1984.
Formerly codified as KRS § 290.185.
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.
(2) No officer or director of a credit union or employee of the department shall release any information contained in the report of examination, except so far as necessary in the performance of his official duties as provided by law.
Terms Used In Kentucky Statutes 286.6-185
- Action: includes all proceedings in any court of this state. 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
- Department: means the Department of Financial Institutions. See Kentucky Statutes 286.1-010
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Federal: refers to the United States. 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.
- 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.
(3) The department may furnish to and exchange information and reports with officials and examiners of other properly authorized state or federal regulatory authorities.
(4) Every official report concerning a credit union and every report of an examination shall be prima facie evidence of the facts therein stated for all purposes in any action in which the department or credit union is a party. Such reports shall not be made public except when required in proper legal proceedings.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 729, effective July 15, 2010. — Amended
1988 Ky Acts ch. 23, sec. 183, effective January 1, 1989 — Amended 1986 Ky. Acts ch. 193, sec. 2, effective July 15, 1986. — Created 1984 Ky. Acts ch. 408, sec. 19, effective July 13, 1984.
Formerly codified as KRS § 290.185.
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.