KRS 286.2-015: Political subdivisions prohibited from enacting or enforcing legislation

governing matters preempted by state or federal law -- Exception for civil

rights. (Effective until April 30, 2027)

(1) Except as provided in KRS 41.470 to 41.476 and 41.480, and subsection (3) of this

section, all political subdivisions of the Commonwealth shall be prohibited from

enacting and enforcing ordinances, resolutions, and regulations pertaining to the

financial or lending activities of persons or entities that:

(a) Are subject to:

1. The jurisdiction of the department; or

2. The provisions of this chapter;

(b) Are subject to the jurisdiction or regulatory supervision of the Board of

Governors of the Federal Reserve System, the Office of the Comptroller of

the Currency, the National Credit Union Administration, the Farm Credit

Administration, the Federal Deposit Insurance Corporation, or the United

States Department of Housing and Urban Development; or

(c) Originate, purchase, sell, assign, securitize, assi st, facilitate, or service

property interests or obligations created by financial transactions or loans

made, executed, or originated by persons or entities referred to in paragraph

(a) or (b) of this subsection.

(2) The requirements of this section shall apply to all ordinances, resolutions, or

regulations pertaining to financial or lending activities, including any ordinances,

resolutions, or regulations that:

(a) Limit or disqualify persons or entities from doing business with a political

subdivision based upon financial or lending activities; or

(b) Impose additional reporting requi rements or other obligations on persons or

entities referred to in subsection (1) of this section seeking to do business with

a political subdivision.

(3) Nothing in this section shall be interpreted as preventing the enforcement of

ordinances, regulations , or resolutions of political subdivisions of the

Commonwealth pertaining to civil rights.