Kentucky Statutes 286.5-641 – Exhibit of affairs to be printed and filed
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(1) The directors or committee shall prepare or have prepared a full exhibit of the affairs, property and condition of the association, including an itemized statement of its assets and liabilities, which exhibits shall be sworn to by a majority of the directors or of the committee before some officer authorized to take acknowledgments of deeds in this state. The report shall be printed and a copy thereof mailed along with the notice convening the special meeting.
(2) The original exhibit and the notice of meeting shall be filed with the commissioner at the time they are mailed to the members.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 698, effective July 15, 2010. — Created
1964 Ky. Acts ch. 138, sec. 46, effective June 18, 1964.
Formerly codified as KRS § 289.641.
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.
(2) The original exhibit and the notice of meeting shall be filed with the commissioner at the time they are mailed to the members.
Terms Used In Kentucky Statutes 286.5-641
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means a savings and loan association subject to the provisions of this subtitle and as used in KRS §. See Kentucky Statutes 286.5-011
- Commissioner: means the commissioner of financial institutions. See Kentucky Statutes 286.5-011
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
- Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 698, effective July 15, 2010. — Created
1964 Ky. Acts ch. 138, sec. 46, effective June 18, 1964.
Formerly codified as KRS § 289.641.
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.