{"data":{"id":"us-ky/krs-286.3-135","jurisdiction":"us-ky","citation":"KRS 286.3-135","heading":"Banker's bank authorized -- Limitations on holdings -- Issuance of","body":"charter.\n(1) Notwithstanding any other provisions of law, any bank doing business in the\nCommonwealth, whether state or nationally chartered, may purchase for its own\naccount shares of a bank or bank holding company which owns or controls such a\nbank provided:\n(a) The stock of such bank or bank holding company is owned exclusively\n(except to the extent director's qualifying shares are required by law) by\ndepository institutions; and\n(b) Such bank or bank holding company and all subsidiaries thereof are engaged\nexclusively in providing services for depository institutions, their parent\ncompanies, their subsidiaries, the officers, directors, and employees of each.\n(2) In no event shall t he total amount of stock held by a bank in any bank or bank\nholding company described in subsection (1) above exceed at any time ten percent\n(10%) of a bank's capital stock and paid in and unimpaired surplus and in no event\nshall the purchase of such stock  result in a bank acquiring more than five percent\n(5%) of any class of voting securities of such bank or bank holding company.\n(3) The commissioner is authorized to receive applications, hold hearings on such\napplications, and issue charters for a banker's bank.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14539","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:10Z","sha256":"a5faae1bae4f54994b5ac84980cb18afd7df147e075bce0f01a5a995c85ec202","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-115","next":"us-ky/krs-286.3-140"},"notice":"GroundRules: Original legal text. Not legal advice."}