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2020 Kentucky Revised Statutes
Chapter 286 - Kentucky financial services code
Subtitle 286.3 - Banks and Trust Companies
- 286.3-010 Definitions for subtitle.
- 286.3-020 Approval of application for charter -- Prerequisites to financial institution doing business under its charter.
- 286.3-025 Prohibition against transacting business before issuance of charter.
- 286.3-030 Limitation on right to engage in business -- Authorization for Kentucky chartered banks and subsidiaries to sell insurance -- Names to be used by branch offices.
- 286.3-040 Who may organize -- Number of directors required.
- 286.3-050 Organization to be approved by commissioner.
- 286.3-060 Oath required of each director before transacting business and upon any election or reelection -- Oath to be filed with commissioner and subject to review.
- 286.3-065 Officers and directors to act in good faith and with necessary and reasonable care and diligence.
- 286.3-070 Minimum capital stock required.
- 286.3-080 Minimum capital and surplus required to begin business.
- 286.3-090 Reduction of capital stock of bank or trust company to be approved by commissioner -- $2,500,000 in capital stock to be maintained.
- 286.3-095 Change in control or certain loans to be reported to commissioner -- Contents of report.
- 286.3-100 Investment of bank funds -- Property that may be held.
- 286.3-102 Activities permitted to state bank receiving CAMELS rating of 1 or 2 -- Section not applicable to deferred deposit transactions or title pledge lending.
- 286.3-103 Investment in property.
- 286.3-105 Bank may acquire and hold personal property at request of customer -- Property deemed collateral.
- 286.3-110 Investment of funds held in fiduciary capacity -- Capital stock liable for fiduciary obligations.
- 286.3-115 Capital notes and debentures may be issued -- Conditions.
- 286.3-135 Banker's bank authorized -- Limitations on holdings -- Issuance of charter.
- 286.3-140 Amendment of articles and reorganization to engage in a trust business -- Consolidation -- Transfer of fiduciary account to affiliate.
- 286.3-145 Kentucky state trust company -- Scope of activities -- Acquisition of office within or outside of this state by Kentucky state trust company -- Rights, privileges, obligations, and liabilities of selling trust company.
- 286.3-146 Out-of-state trust company doing business in Kentucky -- Scope of activities -- Fiduciary-related activities limited by reciprocity -- Evidence and notice to be provided to commissioner.
- 286.3-150 Consolidation of trust companies -- Method and effect.
- 286.3-160 State bank may reorganize as national bank.
- 286.3-170 National bank may reorganize as state bank.
- 286.3-172 Conditions of and procedure for conversion of national banking association to state bank or merger with state bank.
- 286.3-173 Conversion of state bank to or merger with national banking association.
- 286.3-174 Provisions of KRS 286.3-172 and 286.3-173 to constitute alternative method -- Legislative purpose declared.
- 286.3-180 Banking business, where done -- Branch banks.
- 286.3-183 Transfer of branches between commonly controlled banks.
- 286.3-185 Change of location -- Approval by commissioner.
- 286.3-187 Bank acting as agent of another financial institution -- Filing -- Commissioner's approval -- Scope of activities.
- 286.3-190 Powers of banks.
- 286.3-193 Bank holidays.
- 286.3-199 Closing of banks -- Emergency.
- 286.3-200 Certain banks may continue to act as fiduciaries.
- 286.3-210 Powers of banks or trust companies.
- 286.3-212 Deposit of securities with district federal reserve bank by bank acting as fiduciary or custodian for fiduciary -- Accounting and crediting of deposits.
- 286.3-214 Rate of interest allowed on loans of $15,000 or less -- Trust company not to extend credit -- Exception.
- 286.3-215 Authority to charge interest in advance -- Installment loans with interest in advance -- Exceptions -- Restrictions on installment loans.
- 286.3-218 Definitions for KRS 286.3-219 and 286.3-220.
- 286.3-219 Continuation of trust by corporate trustee -- Limitations -- Application.
- 286.3-220 Corporate fiduciaries subject to laws governing individuals -- Security on bonds -- Ability to serve as trustee of multiple trusts with common or nonidentical beneficiaries.
- 286.3-225 Appointment of a nominee by banking institutions acting in a fiduciary capacity.
- 286.3-230 Common trust funds -- Consent of cofiduciary.
- 286.3-235 Common trust fund not separate entity for tax purposes -- Circumstances when no gain or loss to be recognized.
- 286.3-240 Real estate mortgage investment fund -- Participation certificates.
- 286.3-250 Operation of real estate mortgage investment fund.
- 286.3-260 Liquidation of investment fund.
- 286.3-270 Fiduciary may act in own name -- Records -- Investments not subject to debts of fiduciary.
- 286.3-272 Investment of fiduciary assets in company or trust associated with investing institution -- Fee.
- 286.3-275 Limits on liability of bank or trust company acting as fiduciary.
- 286.3-277 Standards for bank or trust company acting as fiduciary.
- 286.3-280 Maximum debt of persons to bank or trust company.
- 286.3-290 Exceptions to maximum debt to banks.
- 286.3-300 Required reserves.
- 286.3-310 Bank may own stock in federal reserve bank or Federal Deposit Insurance Corporation.
- 286.3-320 Federal Deposit Insurance Corporation to be subrogated to rights against closed banks.
- 286.3-330 Assets may be pledged or surety bonds provided as collateral security -- Security not required if deposit insured.
- 286.3-340 Preferred stock.
- 286.3-350 When dividends may be declared.
- 286.3-375 Preservation of bank records.
- 286.3-380 Deposits by minors.
- 286.3-385 Educational loans to minors -- Validity.
- 286.3-420 Repealed, 2010.
- 286.3-450 Examination -- Procedure -- Agreement to examine and supervise branches -- Joint examination and enforcement actions.
- 286.3-455 Commonwealth or its employees not liable for failure to disclose financial condition of bank or trust company.
- 286.3-460 Duties of examiners.
- 286.3-470 Information obtained by examination to be confidential -- Exceptions -- Reports as evidence.
- 286.3-480 Fees to be paid commissioner for services.
- 286.3-490 Reports to be made to commissioner -- Contents -- Information from officer, director, or board to commissioner.
- 286.3-530 Examination of institutions in hands of receiver -- Reports of receivers.
- 286.3-630 Transfer of assets to another bank -- Procedure -- Publication of notice.
- 286.3-640 Relief to aggrieved shareholders.
- 286.3-660 Annual report of commissioner.
- 286.3-690 Cease and desist orders -- Orders of suspension or removal from office -- Appeal -- Enforcement of orders.
- 286.3-695 Approval of state-chartered bank officers or directors required in certain instances.
- 286.3-710 Definitions for KRS 286.3-720 to 286.3-770.
- 286.3-720 Form and provisions of credit plan -- Disclosures.
- 286.3-730 Billing cycle -- Payment of balance -- Payment of credit card charges.
- 286.3-740 Finance charges -- Rate.
- 286.3-750 Additional fees, charges and costs.
- 286.3-760 Limitation on amount charged.
- 286.3-765 "Credit card guaranty" defined -- Requirement to insure validity.
- 286.3-770 Credit plans not invalidated.
- 286.3-850 Definitions.
- 286.3-852 Applicability of KRS 286.3-850 to 286.3-884.
- 286.3-854 Closing of bank by commissioner -- Written statement of grounds -- Appointment of receiver.
- 286.3-856 Tender of appointment as receiver to FDIC.
- 286.3-858 Vesting of assets in receiver.
- 286.3-860 Notice of closing to be posted -- Effect.
- 286.3-862 Powers and duties of receiver.
- 286.3-864 "Preference" defined.
- 286.3-866 Sale of assets by receiver -- Borrowing from FDIC by receiver.
- 286.3-868 Claims procedure -- Publication -- Rejection of claim -- Petition to receivership court.
- 286.3-870 Late claim's share in undistributed assets.
- 286.3-872 Order of payment of claims.
- 286.3-874 Rights of receiver under participation agreements.
- 286.3-876 Receiver's election to reject a lease -- Effect.
- 286.3-878 FDIC subrogated to rights of depositors.
- 286.3-880 Receiver to appoint successor to bank's rights, assets, obligations.
- 286.3-882 KRS 286.3-850 to 286.3-884 is exclusive procedure for appointment of receiver or liquidating agent.
- 286.3-884 Destruction of closed bank's records.
- 286.3-900 Definitions of terms used in this section and KRS 286.3-905 -- Acquisition of in-state banks -- Limitations -- In-county merger or consolidation.
- 286.3-905 Filing of application to acquire bank with commissioner -- Examination of applicant -- Cooperative agreements by commissioner to examine out-of-state bank or exchange confidential information.
- 286.3-910 Illegal acquisitions.
- 286.3-915 Bank combinations -- Operation of a combined bank as a branch of the surviving bank -- Transfer of combined bank's main office and branches -- Definitions.
- 286.3-920 Interstate merger transactions -- Restrictions -- Combinations of commonly controlled banks -- Scope of activities of branch outside home state.
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