Section 286.1-011 - Department of Financial Institutions - Functions - Divisions within department - Medium for filing applications and other documents(1) There is created within the Public Protection Cabinet a Department of Financial Institutions, which shall be headed by a commissioner of financial institutions, who shall be the executive head of the department and shall be charged with the administration of the department.(2) The Department of Financial Institutions shall exercise all administrative functions of the state in relation to the regulation, supervision, chartering and licensing of banks, trust companies, savings and loan associations, consumer loan companies, investment and industrial loan companies, and credit unions, and in relation to the regulation of securities.(3) There are established within the Department of Financial Institutions the following divisions:(a) The Division of Depository Institutions, which shall be headed by a director appointed by the secretary of the Public Protection Cabinet in accordance with KRS 12.050. The division shall consist of entities deemed appropriate by the director;(b) The Division of Non-Depository Institutions, which shall be headed by a director appointed by the secretary of the Public Protection Cabinet in accordance with KRS 12.050. The division shall consist of entities deemed appropriate by the director; and(c) The Division of Securities, which shall be headed by a director appointed by the secretary of the Public Protection Cabinet in accordance with KRS 12.050. The division shall consist of entities deemed appropriate by the director.(4) The department may accept any application or other document required to be filed with the department in electronic format or in any other technology acceptable to the department.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 607, effective7/15/2010. -- Amended 2000, Ky. Acts ch. 279, sec. 2, effective 7/14/2000. -- Amended 1998, Ky. Acts ch. 147, sec. 1, effective 7/15/1998. -- Amended 1994 Ky. Acts ch. 165, sec. 1, effective 7/15/1994. -- Amended 1984 Ky. Acts ch. 324, sec. 2, effective 7/13/1984; and ch. 388, sec. 3, effective 7/13/1984. -- Amended 1976 Ky. Acts ch. 299, sec. 59. -- Amended 1968 Ky. Acts ch. 152, sec. 137. -- Amended 1966 Ky. Acts ch. 255, sec. 229. -- Amended 1950 Ky. Acts ch. 179, sec. 2. -- Created 1946 Ky. Acts ch. 191, sec. 1.