KRS 286.5-661: Foreign associations prohibited -- Exceptions.

(1) No savings and loan association incorporated under the laws of another state shall

establish an office, branch or agency in this state. No savings and loan association

incorporated under the laws of another state shall transact any savings and loan

business in this state except to lend money.

(2) This section shall not apply to any savings and loan association incorporated under

the laws of another state, which association is duly authorized to transact a savings

and loan business in this state on January 1, 1964.