There is a newer version of this Section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
286.5-551 Consolidation of associations.

Universal Citation: KY Rev Stat § 286.5-551 (2021)
Previous Next

Download as PDF
286.5-551 Consolidation of associations. (1) (2) Any two (2) or more associations may consolidate into a single corporation by a majority vote of all the members of each of the different associations at a special meeting of each association called for that purpose, of which at least thirty (30) days' notice shall have been given each member. The consolidation shall be upon such terms as the directors of the associations mutually agree upon, and the terms shall be plainly set forth to each member in the notice of the special meetings. Any member not consenting to the consolidation shall be entitled to receive the withdrawal value of his stock in settlement or to have the value thereof applied in part settlement of his loan, if he is a borrower. Effective: June 18, 1964 History: Created 1964 Ky. Acts ch. 138, sec. 42, effective June 18, 1964. Formerly codified as KRS 289.551. 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.