{"data":{"id":"us-ky/krs-286.3-450","jurisdiction":"us-ky","citation":"KRS 286.3-450","heading":"Examination -- Procedure -- Agreement to examine and supervise","body":"branches -- Joint examination and enforcement actions.\n(1) Every state bank, branch of an out -of-state state bank, or trust company doing\nbusiness under the laws of this state shall be s ubject to inspection by the\ncommissioner or by an examiner appointed by the commissioner. Examination shall\nbe made of each institution at least once every twenty -four (24) months, unless\nother examinations are accepted as provided in subsections (3), (4),  and (5) of this\nsection, and not more than twice unless it appears from examination or from the\nreports of the institution that it has failed to comply with laws or regulations relating\nto banks or trust companies, or has engaged in unsafe or unsound banking practices.\n(2) The commissioner, deputy commissioner, and each examiner may compel the\nappearance of any person for the purpose of the examination, which shall be made\nin the presence of one (1) of the officers of the institution being examined.\n(3) Any bank that becomes a member of a Federal Reserve Bank shall be subject to the\nexamination required by the Federal Reserve Act, (38 Stat. 251) as amended, and\nthe commissioner may, in his discretion, accept examinations made by the Federal\nReserve authorit ies in lieu of examinations made under state laws. The\ncommissioner shall furnish to the Federal Reserve agent of the district in which the\nmember bank is situated, copies of reports and examinations made of the member\nbank.\n(4) The commissioner may, in hi s discretion, accept examinations made by the Federal\nDeposit Insurance Corporation in lieu of examinations made under state laws.\n(5) The commissioner may, in his discretion, enter into cooperative, coordinating, and\ninformation-sharing agreements with an y other bank supervisory agencies or any\norganization affiliated with or representing one (1) or more bank supervisory\nagencies with respect to the periodic examination or other supervision of any branch\nof an out- of- state state bank, any branch of a sta te bank in any host state, any trust\noffice or trust representative office of an out -of-state trust company, or any trust\noffice or trust representative office of a Kentucky state trust company in any host\nstate. The commissioner may accept reports of exam inations and reports of\ninvestigation from other bank supervisory agencies and home state regulators in lieu\nof examinations made under state law. The commissioner may enter into joint\nexaminations or joint enforcement actions with other bank supervisory a gencies\nhaving concurrent jurisdiction over any bank, bank holding company, branch of an\nout- of- state state bank, any branch of a state bank located in any host state, any\ntrust office or trust representative office of an out -of-state trust company, or a ny\ntrust office or trust representative office of a Kentucky state trust company in any\nhost state. Information produced or provided under this section shall be considered\nconfidential as provided in KRS 286.3-470.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=39769","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:10Z","sha256":"f80f479ee3473235e23679f345884f7f1103634cee58602c6b39e406d9426541","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-420","next":"us-ky/krs-286.3-455"},"notice":"GroundRules: Original legal text. Not legal advice."}