There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 8. Mortgage Loan Companies and Brokers
286.8.075 Change of control.
Download pdfcompany or mortgage loan broker; or (b) A transfer of at least ten percent (10%) of the outstanding voting stock of a mortgage loan company or a mortgage loan broker. (2) A transfer of voting stock of a mortgage loan company or mortgage loan broker which constitutes a change of control shall be approved in writing by the
commissioner, prior to the transfer. (3) The owner, president, chief executive officer or a partner shall apply to the commissioner for approval of a transfer of voting stock in his mortgage loan
company or mortgage loan broker which constitutes a change of control. The
application must contain information which shows that the requirements of this
subtitle for obtaining a license will be satisfied after the change of control. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 773, effective July 15, 2010. -- Amended 1998 Ky. Acts ch. 197, sec. 8, effective July 15, 1998. -- Created 1986 Ky. Acts
ch. 461, sec. 9, effective July 15, 1986. Formerly codified as KRS 294.075.
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, and KRS references within
this statute have been adjusted to conform with the 2006 renumbering of that code.
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