Federal savings and loan associations, incorporated pursuant to the Home Owners’ Loan Act of 1933, as amended, are not foreign corporations or associations when the main office is located in this state. Unless federal laws or regulations provide otherwise, federal savings and loan associations and the members thereof shall possess all of the rights, powers, privileges, benefits, immunities and exemptions provided for associations organized under the laws of this state and for the members thereof.
Effective: June 18, 1964

Terms Used In Kentucky Statutes 286.5-680

  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
  • Home: means a dwelling or dwellings for not more than four (4) families, the principal use of which is for residential purposes. See Kentucky Statutes 286.5-011
  • 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.

History: Created 1964 Ky. Acts ch. 138, sec. 61, effective June 18, 1964.
Formerly codified as KRS § 289.680.
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.

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