Statutes, codes, and regulations
Kentucky Revised Statutes
Title 25 - BUSINESS AND FINANCIAL INSTITUTIONSChapter 286 - KENTUCKY FINANCIAL SERVICES CODE
Subtitle 286.5 - SAVINGS AND LOAN ASSOCIATIONS
Section 286.5-025 - Insurance requirement for certificate of incorporation

Ky. Rev. Stat. § 286.5-025

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Current through 2024 Ky. Acts ch. 225
Section 286.5-025 - Insurance requirement for certificate of incorporation

No certificate of incorporation as provided for under this subtitle shall be granted or approved by the commissioner after June 16, 1972, unless the applicant for such certificate:

(1) Submits sufficient evidence of being fully insured by the Federal Savings and Loan Insurance Corporation or other federal agency; or
(2) Submits sufficient evidence of commitment by the Federal Savings and Loan Insurance Corporation or other federal agency that the applicant will be issued federal insurance immediately subsequent to the execution of the certificate of incorporation by the commissioner.

KRS 286.5-025

Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 676, effective7/15/2010. -- Amended 1984 Ky. Acts ch. 111, sec. 128, effective 7/13/1984. -- Created 1972 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 1.