{"data":{"id":"us-ky/krs-286.3-060","jurisdiction":"us-ky","citation":"KRS 286.3-060","heading":"Oath required of each director before transacting business and upon any","body":"election or reelection -- Oath to be filed with commissioner and subject to\nreview -- Duty of officer or director.\n(1) A newly chartered state bank or trust company sha ll not transact any banking or\ntrust business until each director of the institution executes, in writing, an oath of\noffice which shall:\n(a) State in substance:\n1. That he or she is a citizen of the United States, and the State of\nKentucky, or, if not, the place of his or her residence;\n2. That he or she will faithfully discharge the duties of the office and\nadminister the affairs of the institution, so far as the duties of the office\nrequire; and\n3. That he or she will uphold the laws of Kentucky, and par ticularly the\nbanking and trust laws;\n(b) Be executed and acknowledged before any officer authorized to administer\noaths; and\n(c) Be forwarded to the commissioner for filing.\n(2) (a) The oath of office required under subsection (1) of this section shall be\nexecuted or reexecuted, as applicable, upon the election of any subsequent\ndirector or reelection of any director.\n(b) Any oath of office executed by a subsequent or reelected director shall be:\n1. Maintained by the state bank or trust company; and\n2. Subject to review at examination.\n(3) (a) Each officer and director of a state bank or trust company shall discharge the\nduties and responsibilities of his or her respective office or position in good\nfaith and with the ordinary care and diligence as necessary and reasonable to\nadminister the affairs of the state bank or trust company in a safe and sound\nmanner.\n(b) The provisions of this subsection and KRS 271B.8-300 apply to directors.\n(c) The provisions of this subsection and KRS 271B.8-420 apply to officers.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55146","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:10Z","sha256":"fef710ea424d8b19e476c5340f1627d0cc8471552c74e553b1c00725766d6c78","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-050","next":"us-ky/krs-286.3-065"},"notice":"GroundRules: Original legal text. Not legal advice."}