There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 3. Banks and Trust Companies
286.3.630 Transfer of assets to another bank -- Procedure -- Publication of notice.
Download pdfwarranting an immediate transfer of such assets and liabilities, the board of
directors of any bank, by a majority vote, may transfer the assets and liabilities of
such bank to another bank or banks, without the vote or approval of the
stockholders of each bank which is a party to the proposed transfer. (2) No such transfer shall be made without the consent of the commissioner and each bank which is a party to such transfer shall file with the commissioner, certified
copies of all proceedings had by its board of directors, with a complete copy of the
agreement entered into by such banks. (3) Notice of a transfer of assets and liabilities made pursuant to the provisions of this section shall be given to all stockholders and a certified copy thereof shall be filed
in the office of the commissioner. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 28, sec. 17, effective July 15, 2010. -- Amended 1966 Ky. Acts ch. 239, sec. 204, effective June 16, 1966. -- Recodified 1942 Ky.
Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 165a-17a. Formerly codified as KRS 287.630.
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.
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