Statutes, codes, and regulations
Kentucky Revised Statutes
Title 25 - BUSINESS AND FINANCIAL INSTITUTIONSChapter 286 - KENTUCKY FINANCIAL SERVICES CODE
Subtitle 286.3 - BANKS AND TRUST COMPANIES
Section 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

Ky. Rev. Stat. § 286.3-090

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Current through 2024 Ky. Acts ch. 225
Section 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

No reduction in the capital stock of a bank or trust company shall be made to an amount less than was required for organization, nor shall any reduction be valid until it has been approved by the commissioner upon his finding that the interest of creditors of the bank or trust company will not be prejudiced thereby. In no event, however, shall the capital stock be less than two million five hundred thousand dollars ($2,500,000).

KRS 286.3-090

Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 620, effective7/15/2010; and ch. 28, sec. 9, effective7/15/2010. -- Amended 1984 Ky. Acts ch. 324, sec. 9, effective 7/13/1984. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective 10/1/1942, from Ky. Stat. sec. 587.