If a controversy arises between the commissioner and an association with respect to any question of law or regulation or with respect to any question involving immeasurable or irreparable damage to the association, prior to an administrative or judicial hearing, the association or the commissioner may apply to any court of competent jurisdiction of the county in which the home office of the association is located for a declaratory judgment as to such question, and such court shall decide the controversy on its merits in accordance with the weight of the evidence, and such court shall have full power to enforce its orders.
Effective: July 15, 2010

Terms Used In Kentucky Statutes 286.5-780

  • 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
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Statute: A law passed by a legislature.

History: Amended 2010 Ky. Acts ch. 24, sec. 709, effective July 15, 2010. — Created
1964 Ky. Acts ch. 138, sec. 64, effective June 18, 1964.
Formerly codified as KRS § 289.780.
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.