There is a newer version of this Section
2022
2021 (you are here)
2020
2019
2018
Other previous versions
View our newest version here

2021 Kentucky Revised Statutes
Chapter 286 - Kentucky financial services code
Subtitle 286.5 - Savings and Loan Associations
286.5-221 Bond of officers or employees handling money.

Universal Citation: KY Rev Stat § 286.5-221 (2021)
Previous Next

Download as PDF
286.5-221 Bond of officers or employees handling money. (1) (2) Every person appointed or elected to any position requiring the receipt, payment, management or use of money belonging to an association, shall within thirty (30) days after his appointment or election become bonded in some responsible fidelity insurance company in such amounts as the directors require. The bond must be approved by a majority of the directors before such person may enter upon the discharge of his duties. The premium upon all such bonds shall be paid by the association, and the bonds shall be in the custody of the officer provided for in the bylaws. Effective: June 18, 1964 History: Created 1964 Ky. Acts ch. 138, sec. 11, effective June 18, 1964. Formerly codified as KRS 289.221. 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.
Previous Next
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.