There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 5. Savings and Loan Associations
286.5.171 Reserve fund -- Creation -- Charges -- Credits.
Download pdftotal amount of the fund so set aside equals twelve percent (12%) of the assets of
the association. The commissioner may require other specific reserves in his or her
discretion. (2) Any losses from sale of real estate may be charged against this fund and in the event of any such charges then any profits from the sale of real estate shall, to the extent
of losses charged, be credited to the said fund. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 688, effective July 15, 2010. -- Created 1964 Ky. Acts ch. 138, sec. 18, effective June 18, 1964. Formerly codified as KRS 289.171.
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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