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286.3-470 Information obtained by examination to be confidential -- Exceptions -Reports as evidence.
(1)
(2)
(3)
Reports of examination, and correspondence that relates to the report of
examination, of a bank or trust company shall be considered confidential
information. No officer or director of a bank or trust company, employee of the
department, or employee of a state or federal regulatory authority shall release any
information contained in the examination, except when:
(a) Required in a proper legal proceeding in which a subpoena and protective
order insuring confidentiality has 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
bank, or to outside persons for the purpose of evaluating the bank for possible
acquisition. Reports of examination released to outside persons providing
professional services to the bank or for the purpose of evaluating the bank for
possible acquisition, shall require a written request from such outside persons
and prior approval by the board of directors or an executive committee of the
bank.
The department may furnish to and exchange information and reports with officials
and examiners of other properly authorized state or federal regulatory authorities,
including the Federal Deposit Insurance Corporation, the Federal Reserve Board,
and the Office of the Comptroller of the Currency.
Every official report concerning a bank or trust company, and every report of
examination, shall be prima facie evidence of the facts therein stated for all
purposes in any action in which the department, bank, or trust company is a party.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 641, effective July 15, 2010. -- Amended
1992 Ky. Acts ch. 77, secs. 5 and 15, effective July 14, 1992. -- Amended 1986 Ky.
Acts ch. 444, sec. 10, effective July 15, 1986. -- Recodified 1942 Ky. Acts ch. 208,
sec. 1, effective October 1, 1942, from Ky. Stat. sec. 165a-8.
Formerly codified as KRS 287.470.
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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