{"data":{"id":"us-ky/krs-286.3-920","jurisdiction":"us-ky","citation":"KRS 286.3-920","heading":"Definitions for section -- Interstate merger transactions -- Restrictions --","body":"Combinations of commonly controlled banks -- Scope of activities of branch\noutside home state.\n(1) As used in this section:\n(a) \"Bank\" includes:\n1. An out-of-state bank; and\n2. A national bank;\n(b) \"Interstate merger transaction\" means:\n1. The merger or consolidation of banks with different home states,\nincluding the conversion of branches of any bank involved in the merger\nor consolidation into branches of the resulting bank; or\n2. The acquisition of a bank's branch or branches by a bank with a different\nhome state without acquisition of the bank; and\n(c) \"Resulting bank\" means the bank that has resulted from a merger or\nconsolidation.\n(2) (a) A Kentucky state bank may:\n1. Establish, maintain, and operate one (1) or more branches in a state\nother than Kentucky in accordance with an interstate merger transaction\nin which the Kentucky state bank is the resulting bank; or\n2. If the other state per mits, acquire a bank's branch or branches in a state\nother than Kentucky in accordance with an interstate merger transaction\nin which the Kentucky state bank does not acquire the bank.\n(b) Not later than the date on which the required application for the i nterstate\nmerger transaction is filed with the responsible federal bank supervisory\nagency, the applicant shall:\n1. File an application on a form prescribed by the commissioner;\n2. Pay any fee prescribed by KRS 286.3-480; and\n3. Comply with the applicable provisions of KRS 286.3 -180(3) for the\nestablishment or acquisition of branches by Kentucky state banks.\n(c) The commissioner shall base his or her approval or disapproval of the\ninterstate merger transaction on the requirements of this subtitle and the\nfactors prescribed in KRS 286.3-180(3)(b).\n(3) (a) An out -of-state bank may establish, maintain, and operate one (1) or more\nbranches in Kentucky in accordance with an interstate merger transaction in\nwhich the out-of-state bank is the resulting bank.\n(b) If the laws of the home state of the out -of-state bank place more restrictive\nterms or requirements on Kentucky state banks seeking to merge or\nconsolidate with a bank in that state, the interstate merger transaction of the\nout-of-state bank may be allowed only under substantially the same terms and\nconditions as applicable to Kentucky state banks seeking to merge or\nconsolidate with a bank in the home state of the out-of-state bank.\n(c) Not later than the date on which the required application for the inter state\nmerger transaction is filed with the responsible federal bank supervisory\nagency, the applicant shall:\n1. File an application on a form prescribed by the commissioner;\n2. Pay any fee prescribed by KRS 286.3-480;\n3. Agree in writing to comply with the  laws of this state applicable to its\noperation of branches in Kentucky; and\n4. Comply with the applicable provisions of KRS 286.3 -180(3) for the\nestablishment or acquisition of branches by Kentucky state banks.\n(d) The commissioner shall base his or her a pproval or disapproval of the\ninterstate merger transaction on the requirements of this subtitle and the\nfactors prescribed in KRS 286.3-180(3)(b).\n(4) No interstate merger transaction under subsection (2) or (3) of this section shall be\napproved if the tr ansaction would result in a bank holding company having control\nof banks or branches in this state holding more than fifteen percent (15%) of the\ntotal deposits and member accounts in the offices of all federally insured depository\ninstitutions in this state as reported in the most recent June 30 quarterly report made\nby the institutions to their respective supervisory authorities that are available at the\ntime of the transaction.\n(5) A branch of an out-of-state bank located in Kentucky may conduct:\n(a) Any activities in this state, other than fiduciary activities, that are authorized\nunder the laws of this state for Kentucky state banks;\n(b) Fiduciary activities in this state that are authorized under the laws of this state\nfor Kentucky state banks if a bra nch of a Kentucky state bank located in the\nout-of-state bank's home state is permitted to engage in substantially similar\nactivities under the laws of the out-of-state bank's home state; and\n(c) Any activities in this state relating to the administration of trusts that are\nauthorized under, and conducted in conformity with, the laws of the out -of-\nstate bank's home state for the bank.\n(6) A branch of a Kentucky state bank located in a host state may conduct any activities\nthat are:\n(a) Authorized under the laws of the host state for banks chartered by the host\nstate; or\n(b) Authorized for branches of national banks located in the host state, but whose\nprincipal location is in a state other than the host state.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55164","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:11Z","sha256":"0eec7348352d160b0a168d2d0dd80177eb35795ae7a01980eac5617deecc0bf4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-915","next":"us-ky/krs-286.3-990"},"notice":"GroundRules: Original legal text. Not legal advice."}