There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 6. Credit Unions
286.6.385 Trust accounts.
Download pdfbeneficiary who is a member. (2) Beneficiaries may be under eighteen (18) years of age; but no beneficiary, unless a member in his own right, shall be permitted to vote, obtain loans, hold office or be
required to pay an entrance or membership fee. (3) Payment of part or all of such a trust account to the party in whose name the account is held shall, to the extent of such payment, discharge the liability of the
credit union to that party and to the beneficiary, and the credit union shall be under
no obligation to see to the application of such payment. Effective: July 13, 1984
History: Created 1984 Ky. Acts ch. 408, sec. 39, effective July 13, 1984.
Formerly codified as KRS 290.385.
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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