{"data":{"id":"us-ky/krs-136.520","jurisdiction":"us-ky","citation":"KRS 136.520","heading":"Conditions constituting regularly engaging in business in the","body":"Commonwealth by financial institutions.\n(1) A financial institution is presumed to be regularly engaging in business in this\nCommonwealth if during any taxable year it obtains or solicits business with twenty\n(20) or more persons within this Commonwealth, or if receipts attributable to\nsources in this Commonwealth as would be determined pursuant to the provisions\nof KRS 136.530(2) equals or exceeds one hundred thousand dollars ($100,000). In\ndetermining whether a financial institution is regularly engaging in business in this\nCommonwealth, receipts from the following types of property, as well as those\ncontacts with this Commonwealth reasonably and exclusively required to evaluate\nand complet e the acquisition or disposition of the property, the servicing of the\nproperty or the income from it, the collection of income from the property, or the\nacquisition or liquidation of collateral relating to the property, shall be excluded:\n(a) An interest in a real estate mortgage investment conduit, a real estate\ninvestment trust, or a regulated investment company;\n(b) An interest in a loan -backed security representing ownership or participation\nin a pool of promissory notes or certificates of interest tha t provide for\npayments in relation to payments or reasonable projections of payments on the\nnotes or certificates;\n(c) An interest in a loan or other asset from which the interest is attributed to a\nconsumer loan, a commercial loan, or a secured commercial  loan, and in\nwhich the payment obligations were solicited and entered into by a person that\nis independent, and not acting on behalf of the owner;\n(d) An interest in the right to service or collect income from a loan or other asset\nfrom which interest on the loan is attributed as a loan described in paragraph\n(c) of this subsection, and in which the payment obligations were solicited and\nentered into by a person that is independent and not acting on behalf of the\nowner; and\n(e) Any amounts held in an escro w or trust account with respect to property\ndescribed in paragraphs (a) to (d) of this subsection.\n(2) Subsection (1) of this section shall be interpreted to reach to the limits permitted by\nthe United States Constitution.","path":["KRS Chapter 136"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28569","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:27Z","sha256":"0fc38cd76b4d97835e6b8b6509fdca558e2431d3db5956fd88205c6505f11f81","source_id":"us-ky","stale":false,"prev":"us-ky/krs-136.515","next":"us-ky/krs-136.525"},"notice":"GroundRules: Original legal text. Not legal advice."}