KRS 91.620: Capital stock of incorporated banks, trust companies, and guaranty or

security companies -- Assessment procedure.

(1) Except as provided in subsection (2) of this section, the shares of stock of every

incorporated bank, trust company, and guaranty or s ecurity company located in a

city of the first class or consolidated local government shall be assessed for taxes by

the city or consolidated local government assessor, to the extent and in the

proportion its business is done in the city or consolidated local government.

(2) No assessment for city or consolidated local government taxes shall be made upon

the shares of stock of any incorporated bank, trust company, or guaranty or security

company that pays an ad valorem tax on its real estate and a license t ax in lieu of an

ad valorem tax on its personal estate.