{"data":{"id":"us-ky/krs-155.010","jurisdiction":"us-ky","citation":"KRS 155.010","heading":"Definitions.","body":"As used in this section and KRS 155.080 and 155.090, unless the context otherwise\nrequires:\n(1) \"Corporation\" means a business development corporation created under this section\nand KRS 155.080 and 155.090.\n(2) \"Financial institution\" means any banking cor poration or public or private pension\nor retirement fund, trust company, building and loan association, insurance\ncompany or related corporation, partnership, foundation, or other institution\nengaged in lending or investing funds.\n(3) \"Member\" means any fi nancial institution authorized to do business within this\nCommonwealth which undertakes to lend money to a corporation created under this\nsection and KRS 155.080 and 155.090, upon its call, and in accordance with the\nprovisions of this section and KRS 155.080 and 155.090.\n(4) \"Board of directors\" means the board of directors of the corporation created under\nthis section and KRS 155.080 and 155.090.\n(5) \"Loan limit\" means for any member, the maximum amount permitted to be\noutstanding at one (1) time on loans made by such member to the corporation, other\nthan short term loans, as determined under the provisions of KRS 155.080 and\n155.090.\n(6) \"Short term loans\" means loans to the corporation made for that period not to\nexceed one (1) year and not to exceed one million dollars ($1,000,000).","path":["KRS Chapter 155"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=3054","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:58Z","sha256":"db58c15712e575695f403846d691c114ebb346b829a0cc49b89fff3c2eeebfac","source_id":"us-ky","stale":false,"prev":"us-ky/krs-155.001","next":"us-ky/krs-155.020"},"notice":"GroundRules: Original legal text. Not legal advice."}