{"data":{"id":"us-ky/krs-286.3-915","jurisdiction":"us-ky","citation":"KRS 286.3-915","heading":"Bank combinations -- Operation of a combined bank as a branch of the","body":"surviving bank -- Transfer of combined bank's main office and branches --\nDefinitions.\n(1) Notwithstanding any other provision of Subtitle 1, 2, or 3 of KRS Chapter 286:\n(a) An individual or bank holding company that controls two (2) or more banks in\nthis state may, from time to time:\n1. Combine any or all of the banks into and with any one (1) of the\ncommonly controlled banks in this state, and thereafter, the surviving\nbank shall continue to operate its principal office in this state and may\noperate the other authorized offices of the banks so combined as\nbranches of the surviving bank; or\n2. Transfer all of the branches in a county of one (1) of the commonly\ncontrolled banks to any other of the commonly controlled banks in this\nstate, and thereafter, the bank to which the branches are transferred may\noperate the branches as branches of the bank;\n(b) 1. Any combination authorized by this subsection shall not require the\napproval of the commissioner.\n2. On or before thirty (30) days prior to the combination, the proposed\nsurviving or transferee bank shall notify the commissioner of the\ncombination.\n3. On the effective date of the combination, the charter of any combined\nbank organized under the laws of this state shall be surrendered; and\n(c) For purposes of this subsection:\n1. The term \"combine\" or \"combination\" includes a merger or the\nacquisition of all or substantially all of the assets of a bank already\ncontrolled by an individual or bank holding company;\n2. An individual or bank holding company \"controls\" a bank if that\nindividual or company, directly or indirectly, owns, controls, or has the\npower to vote at least eighty percent (80%) of the issued and outstanding\nvoting securities of the bank;\n3. \"Combined bank\" means any bank participating in a combination\nauthorized by this section other than the surviving bank;\n4. \"Surviving bank\" means a bank into which a combined bank has been\ncombined;\n5. \"Bank\" includes a national bank and federal savings bank; and\n6. \"Individual\" and \"bank holding company\" have the same meanings as in\nKRS 286.3-900.\n(2) (a) The commissioner shall approve the following, if he or she determines that\nthe public convenience and necessity will be served by the merger,\nconsolidation, or sale:\n1. The merger or consolidation of state banks having their princ ipal offices\nin the same county and the operation by the merged or consolidated\ncorporation of the banks; or\n2. The sale of any state bank to, and the purchase thereof by, any other\nstate bank with its principal office in the same county and the operation\nof the bank by the purchasing bank as a branch.\n(b) The bank that does not survive the merger or consolidation shall surrender its\ncharter.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55163","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:11Z","sha256":"a2403aebad74d417bf1265bb6480cd862c8d58bae48f0cd241cc607ccf140eb3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-910","next":"us-ky/krs-286.3-920"},"notice":"GroundRules: Original legal text. Not legal advice."}