286.3-065 Duties of directors.
Each director shall exercise such ordinary care and diligence as necessary and reasonable <br>to administer the affairs of the bank in a safe and sound manner. In this regard, the bank <br>shall furnish each director with a copy of an appropriate publication outlining the duties <br>of a bank director and an updated copy of the Kentucky banking law, and maintain in the <br>bank updated copies of federal banking laws, as determined by administrative regulations.
Effective: July 12, 2006 <br>History: Amended 2006 Ky. Acts ch. 183, sec. 6, effective July 12, 2006. -- Amended
1998 Ky. Acts ch. 196, sec. 7, effective July 15, 1998. -- Amended 1986 Ky. Acts <br>ch. 444, sec. 4, effective July 15, 1986. -- Amended 1982 Ky. Acts ch. 251, sec. 6, <br>effective April 1, 1982. -- Amended 1970 Ky. Acts ch. 209, sec. 3, effective June 18, <br>1970. -- Created 1946 Ky. Acts ch. 141, sec. 10.
Formerly codified as KRS 287.065. <br>Legislative Research Commission Note (7/12/2006). This section was amended in
2006 Ky. Acts ch. 183. In that same session, 2006 Ky. Acts ch. 247, sec. 38 required <br>that all sections of KRS Chapters 287, 288, 290, 291, 294, 366, 366A, and 368 be <br>renumbered as sections of a single KRS chapter entitled the "Kentucky Financial <br>Services Code." Therefore, the Statute Reviser, acting under KRS 7.136(1), has <br>changed the number of this section and codified it as a section of KRS Chapter 286.
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