KRS 286.3-910: Illegal acquisitions.

For purposes of this subtitle, it shall be illegal for any individual, corporation or bank

holding company to directly or indirectly acquire, control, hold, charter, convert or

operate any bank, as defined in KRS 286.3 -900, located in this state which is a n "insured

bank" or eligible to become an "insured bank" as that term is defined in the Federal

Deposit Insurance Act, which does not both accept deposits that the depositor has the

legal right to withdraw on demand and actively engage in the business of m aking

commercial loans.