KRS 286.6-115: Tax exemption.

(1) The participation by a credit union in any government program providing

unemployment social security, old age pension or other benefits shall not be deemed

a waiver of the taxation exemption hereby granted.

(2) A credit union shall be deemed an institution for savings, and shall not be subject to

taxation except as to real estate owned. The shares of credit unions shall not be

subject to any stock transfer tax, either when issued or when transferred from one

(1) member to another.