{"data":{"id":"us-ky/krs-286.3-630","jurisdiction":"us-ky","citation":"KRS 286.3-630","heading":"Transfer of assets to another bank -- Procedure -- Publication of notice.","body":"(1) Whenever in the opinion of the commissioner and of a majority of the members of\nthe respective boards of directors of the banks concerned, an emergency exists\nwarranting an immediate transfer of such assets and liabilities, the board of\ndirectors of a ny bank, by a majority vote, may transfer the assets and liabilities of\nsuch bank to another bank or banks, without the vote or approval of the\nstockholders of each bank which is a party to the proposed transfer.\n(2) No such transfer shall be made without the consent of the commissioner and each\nbank which is a party to such transfer shall file with the commissioner, certified\ncopies of all proceedings had by its board of directors, with a complete copy of the\nagreement entered into by such banks.\n(3) Notice of a transfer of assets and liabilities made pursuant to the provisions of this\nsection shall be given to all stockholders and a certified copy thereof shall be filed\nin the office of the commissioner.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14591","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:11Z","sha256":"8622ee48ef2fc25708e6822a0e9b3c1ceea2b051cae6cc8da5461fa63e997c0b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-530","next":"us-ky/krs-286.3-640"},"notice":"GroundRules: Original legal text. Not legal advice."}