There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 5. Savings and Loan Associations
286.5.231 Liability of officer or agent for fraud or neglect.
Download pdfcancels, delivers up or acknowledges satisfaction of any bond, mortgage or other
written statement belonging to the association, unless duly authorized or otherwise
than in the regular and legal business of the corporation, or who is guilty of any
fraud in the performance of his duties shall be liable civilly to the corporation and
also to any other party injured to the extent of the damage caused thereby. (2) Any officer, director, trustee, attorney, agent or employee of any association who fails to perform any duty or service imposed upon him by the association shall,
unless he has been excused from the performance of such duty by the board of
directors, be liable personally for any loss that may result by reason of such failure
or neglect to perform his duty. Effective: June 18, 1964
History: Created 1964 Ky. Acts ch. 138, sec. 12, effective June 18, 1964.
Formerly codified as KRS 289.231.
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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