KRS 155.070: Powers and limitations of other corporate bodies in relation to

corporation.

Notwithstanding any rule at common law or any provision of any general or special law

or any provision in their respective charters, agreements of association, articles of

organization, or trust indentures: (1) all domestic corporations organized for the purpose

of carrying on business within this Commonwealth including without implied limitation

any public utility companies and insurance and casualty companies and foreign

corporations licensed to do business in the Commonwealth, and all trusts, and private or

public pension or retirement funds are hereby authorized to acquire, purchase, hold, sell,

assign, transfer, mortgage, pledge or otherwise dispose of any bonds, securitie s or other

evidences of indebtedness created by, or the shares of the capital stock of, the

corporation, and while owners of said stock to exercise all the rights, powers and

privileges of ownership, including the right to vote thereon, all without the app roval of

any regulatory authority of the Commonwealth; (2) all financial institutions are hereby

authorized to become members of the corporation and to make loans to the corporation as

provided herein; (3) a financial institution which does not become a me mber of the

corporation shall not be permitted to acquire any shares of the capital stock of the

corporation; and (4) each financial institution which becomes a member of the

corporation is hereby authorized to acquire, purchase, hold, sell, assign, transf er,

mortgage, pledge, or otherwise dispose of, any bonds, securities or other evidences of

indebtedness created by, or the shares of the capital stock of the corporation, and while

owners of said stock to exercise all the rights, powers and privileges of o wnership,

including the right to vote thereon, all without the approval of any regulatory authority of

the Commonwealth; provided, that the amount of the capital stock of the corporation

which may be acquired by any member pursuant to the authority granted herein shall not

exceed ten percent (10%) of the loan limit of such member, except that a public pension

or retirement fund which becomes a member may acquire capital stock of the corporation

not to exceed twenty-five percent (25%) of the loan limit of such member. The amount of

capital stock of the corporation which any member is authorized to acquire pursuant to

the authority granted herein is in addition to the amount of capital stock in corporations

which such member may otherwise be authorized to acquire.