2013 Kentucky Revised Statutes CHAPTER 286 - KENTUCKY FINANCIAL SERVICES CODE Subtitle 5 - Savings and Loan Associations 5.5-051 Office -- Located where -- Change of name or location.
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286.5-051 Office -- Located where -- Change of name or location.
(1)
(2)
Without the prior approval of the commissioner, as provided in this subtitle, no
association shall establish any office other than its home office, which shall be
in the city and county named in the certificate of incorporation. No office of an
association shall be moved from its immediate vicinity unless approved by the
commissioner.
The name or the location of the home office of any association fixed in the
certificate of incorporation may be changed in the following manner: The
proposed new name or the new location of the home office of the association
shall be approved by a resolution adopted by the board of directors.
Immediately preceding application to the commissioner for approval, notice of
intention to change the name or the location of the home office, signed by two
(2) officers, shall be published once a week for two (2) successive weeks in a
newspaper of general circulation in the county in which the home office is
located, and a copy of such notice shall be displayed during such consecutive
two (2) weeks' period in a conspicuous place in the home office of the
association. Five (5) copies of an application to the commissioner for approval
shall be signed by two (2) officers of the association, acknowledged before an
officer competent to take acknowledgments of deeds and filed with the
commissioner. Upon approval of an application for change of name, the
commissioner shall indorse on each copy of the application therefor a
certificate of approval thereof, and the change of name of such association
shall be effective immediately. Upon approval of an application for change of
location of the home office of an association, the commissioner shall indorse
on each copy of such application a certificate of approval, as provided in this
subtitle. When the commissioner shall have indorsed such approval upon the
copies of an application for approval of change of name or change of location
of the home office, he shall file one copy thereof with the secretary of state, two
(2) copies with the federal home loan bank of which the association is a
member, return one (1) copy to the applicant association and retain the original
copy in the permanent files of the department.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 679, effective July 15, 2010. -Created 1964 Ky. Acts ch. 138, sec. 5 (3) and (4), effective June 18, 1964.
Formerly codified as KRS 289.051.
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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