{"data":{"id":"us-ky/krs-155.090","jurisdiction":"us-ky","citation":"KRS 155.090","heading":"Distribution among members of loan call -- Interest rate.","body":"(1) Each call made by the corporation shall be prorated among the members of the\ncorporation in substantially the same proportion that the adjusted loan limit of each\nmember bears to the aggregate of the adjusted loan limits of all members. The\nadjusted loan l imit of a member shall be the amount of such member's loan limit,\nreduced by the balance of outstanding loans made by such member to the\ncorporation, other than short term loans, and the investment in capital stock of the\ncorporation held by such member at the time of such call.\n(2) All loans to the corporation by members, other than short term loans, shall be\nevidenced by bonds, debentures, notes, or other evidence of indebtedness of the\ncorporation, which shall be freely transferable at all times, and wh ich shall bear\ninterest at a rate of not less than one -quarter of one percent (0.25%) in excess of the\nrate of interest as determined by the prime rate prevailing on unsecured commercial\nloans among the majority of the New York City clearing house member b anks on\nthe first day of the month in which the loan is made to the corporation.","path":["KRS Chapter 155"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=3062","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:58Z","sha256":"2f1606b527a6401e91d971d377326d4fe8f89f86c43deb347a3317814d243109","source_id":"us-ky","stale":false,"prev":"us-ky/krs-155.080","next":"us-ky/krs-155.100"},"notice":"GroundRules: Original legal text. Not legal advice."}