{"data":{"id":"us-ky/krs-286.3-905","jurisdiction":"us-ky","citation":"KRS 286.3-905","heading":"Filing of application to acquire bank with commissioner -- Examination","body":"of applicant -- Cooperative agreements by commissioner to examine out -of-\nstate bank or exchange confidential information.\n(1) Any bank holding company which proposes to acquire c ontrol of a bank chartered\nin this state or a bank holding company which includes a bank chartered in this\nstate, shall concurrently file with the commissioner copies of the application filed\nwith the federal reserve board under applicable federal law. The commissioner shall\napprove such acquisition within ninety (90) days of acceptance of a complete\napplication if the commissioner finds that:\n(a) The terms of the acquisition are in accordance with the laws of this state;\n(b) The financial condition, or the  competence, experience, and integrity of the\nacquiring company or its principals are such as will not jeopardize the\nfinancial stability of the acquired bank or bank holding company;\n(c) The public convenience and advantage will be served by the acquisition; and\n(d) No federal regulatory authority whose approval is required has disapproved\nthe transaction because it would result in a monopoly or substantially lessen\ncompetition.\n(2) A nonrefundable fee shall accompany each application and shall be set by t he\ncommissioner in accordance with KRS 286.3-480.\n(3) The commissioner may examine or elect to participate in a joint examination, with\nthe applicable federal or state regulatory agency, of any holding company or\nnonbank subsidiary of the holding company that controls or is affiliated with a state-\nchartered bank. The provisions of KRS 286.3 -690 apply to the holding company or\nnonbank subsidiary of the holding company that controls or is affiliated with a state-\nchartered bank.\n(4) The commissioner may enter into cooperative agreements with federal or state\nregulatory authorities to examine an out -of-state bank that is controlled by a\nKentucky bank holding company or is controlled by a bank holding company which\nincludes a state -chartered bank, or accept repor ts of examinations of such out -of-\nstate banks from federal or state regulatory authorities in lieu of conducting\nexaminations.\n(5) The commissioner may enter into cooperative agreements with federal or state\nregulatory authorities to exchange confidential information and reports of\nexamination relating to interstate acquisitions of banks and bank holding\ncompanies.\n(6) The cost of an examination shall be assessed against and paid by the company\nexamined. The assessment for the examination shall be calculate d in the same\nmanner as that used for bank examinations.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14625","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:11Z","sha256":"e4c741ea2252a4902f16d4772882af90f5601340ecd90a5f54210a9225a04598","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-900","next":"us-ky/krs-286.3-910"},"notice":"GroundRules: Original legal text. Not legal advice."}