Section 286.2-685 - Prohibition against use of certain banking-related words and characters or financial institution trademarks by unauthorized person - Exceptions - Enforcement and penalties(1) Except as provided in subsection (2) of this section, a person doing business in this state shall not use the term "bank," "banker," "banking," "trust," or a similar term, which may include without limitation a character, ideogram, phonogram, phrase, or foreign language word, in its name, including any use of the name on stationeryor marketing material or in solicitations or advertising, in a manner that would imply to the public that the person is engaged in the banking or trust business.(2) A person may use a term prohibited by subsection (1) of this section if the person is authorized : (a) Under its charter, or the laws of this state or the United States, to use the term in its name ; and(b) By the laws of this state or the United States to conduct the activities in which it is engaged in this state.(3)(a) The commissioner shall levy a civil penalty against any person that violates this section. (b) The civil penalty shall be not less than one thousand dollars ($1,000) nor more than five thousand dollars ($5,000) per violation, plus the state's costs and expenses for the examination, investigation, and prosecution of the matter, including reasonable attorney's fees and court costs .
Amended by 2024 Ky. Acts ch. TBD,§ 1, eff. 4/4/2024.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 28, sec. 1, effective7/15/2010. -- Created 2006, Ky. Acts ch. 183, sec. 1, effective 7/12/2006.