{"data":{"id":"us-ky/krs-286.6-065","jurisdiction":"us-ky","citation":"KRS 286.6-065","heading":"Out-of-state credit unions.","body":"(1) A credit union organized in another state may conduct business as a credit union in\nthis state with the approval of the commissioner. The commissioner shall find that\nthe out-of-state credit union:\n(a) Is a credit union organized under laws similar to this subtitle;\n(b) Is financially solvent;\n(c) Has account insurance comparable to that required for credit unions\nincorporated under this subtitle;\n(d) Is effectively examined and supervised by the supervisory authority of the\nstate in which it is organized; and\n(e) Needs to conduct business in this state to adequately serve its members in this\nstate.\n(2) The out-of-state credit union shall agree to:\n(a) Grant loans at rates not in excess of the rates permitted for credit unions\nincorporated under this subtitle;\n(b) Comply with the same consumer protection provisions that credit unions\nincorporated under this subtitle must obey;\n(c) Designate and maintain an agent for the service of process in this state; and\n(d) Submit copies of reports to the commissioner when requested.\n(3) The commissioner may examine the out -of-state credit union or enter into\ncooperative or reciprocal agreements with the out -of-state credit union's regulatory\nauthority for periodic examinations.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14759","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:13Z","sha256":"b9d151f9b9e401143497d0a249af26be820916bab1ece6bde4e42575e43b406f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.6-055","next":"us-ky/krs-286.6-070"},"notice":"GroundRules: Original legal text. Not legal advice."}