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286.10-240 Confidentiality of examination -- Exceptions.
(1)
(2)
(3)
Reports of examination, and correspondence that relates to the report of
examination, of a title pledge lender shall be considered confidential
information. No officer or director of a title pledge lender or employee of the
department shall release any information contained in the examination, except
if:
(a) Required in a proper legal proceeding in which a subpoena and
protective order insuring confidentiality have been issued by a court of
competent jurisdiction; or
(b) The information is referred to an appropriate prosecuting attorney for
possible criminal proceedings, to outside persons providing professional
services to the title pledge lender, or to outside persons for the purpose of
evaluating the title pledge lender for possible acquisition. Reports of
examination released to outside persons providing professional services
to the title pledge lender or for the purpose of evaluating the title pledge
lender for possible acquisition, shall require a written request from the
outside person and prior approval by the board of directors or an
executive committee of the title pledge lender.
The department may furnish to and exchange information and reports with
officials and examiners of other properly authorized state or federal regulatory
authorities.
Every official report concerning a title pledge lender, and every report of
examination, shall be prima facie evidence of the facts stated therein for all
purposes in any action in which the department or title pledge lender is a party.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 829, effective July 15, 2010. -Created 1998 Ky. Acts ch. 242, sec. 9, effective July 15, 1998.
Formerly codified as KRS 368.240.
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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