KRS 286.6-635: Taxation of real and personal property.

Any credit union organized under KRS 286.6 -015 or any other provision of this subtitle

and all shares and deposits therein shall be exempt from all taxation imposed by this

state or any taxing authority within this state. No law which taxes corporations i n any

form, or the shares or deposits thereof, or the accumulation thereon, shall apply to any

such credit union; except that any real property and any tangible personal property owned

by any such credit union shall be subject to taxation to the same exten t as other similar

property is taxed, provided that this exception shall not permit the imposition of any sales

or use taxes on the credit union.