{"data":{"id":"us-ky/krs-286.3-330","jurisdiction":"us-ky","citation":"KRS 286.3-330","heading":"Assets may be pledged or surety bonds provided as collateral security --","body":"Security not required if deposit insured.\n(1) A bank may, subject to statutory or charter limitations, pledge a portion of its assets\nor provide surety bonds as may be  required by law as collateral security for\ngovernment deposits made with it by or under the authority of the United States or\nfor any other deposit required by law to be secured.\n(2) Notwithstanding any law requiring security for deposits in the form of c ollateral,\nsurety bond, or in any other form, security for deposits shall not be required to the\nextent the deposit is an insured deposit as defined in 12 U.S.C. sec. 1813, as\namended.\n(3) If a bank proposes to sell its assets and transfer its deposit liab ility to another bank\nand the purchasing bank is unwilling to accept a sufficient amount of the assets to\ncover the liability to depositors and other creditors, the selling bank may, with the\nconsent of the commissioner, pledge all or a part of its remaini ng or unacceptable\nassets to secure a loan for an amount sufficient to cover the remaining liability to\nthe depositors and other creditors.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55158","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:10Z","sha256":"82f0fcd261e03c6ce5e4f84f1c94e1d9a7d4df7b5ab711cb60cfe9c17943a538","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-320","next":"us-ky/krs-286.3-340"},"notice":"GroundRules: Original legal text. Not legal advice."}