2006 Kentucky Revised Statutes - .055   Office facilities.

286.6-055 Office facilities. (1) A credit union may change its principal place of business within this state upon written authorization by the executive director. If the executive director has not notified a credit union of his or her action on an application to change the place of business within fifteen (15) calendar days of the date the application was received by the executive director, the credit union may proceed with the change in its place of business. (2) A credit union may maintain service facilities, including automated teller machines, at locations other than its principal office upon written authorization by the executive director or as permitted by administrative regulation. The maintenance of these facilities must be reasonably necessary to furnish service to its members. (3) A credit union may join with one (1) or more credit unions in the operation of a service facility to meet member needs, including an automated teller machine, upon written authorization by the executive director or as permitted by administrative regulation. Effective: July 14, 2000 History:Amended 2000 Ky. Acts ch. 157, sec. 7, effective July 14, 2000. -- Created 1984 Ky. Acts ch. 408, sec. 6, effective July 13, 1984. Formerly codified as KRS 290.055. 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. Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section.