{"data":{"id":"us-ky/krs-286.6-415","jurisdiction":"us-ky","citation":"KRS 286.6-415","heading":"Reduction in shares.","body":"(1) Whenever the losses of any credit union, resulting from a depreciation in value of\nits loans or investments or otherwise, exceed its undivided earnings and reserve\nfund so that the estimated value of its assets is less than the total amount due the\nshareholders, the credit union may by a majority vote of those voting on the\nproposition order a reduction in the shares of each of its shareholders to divide the\nloss proportionately among the members.\n(2) If the credit union thereafter realizes from such asset s a greater amount than was\nfixed by the order of reduction, such excess shall be divided proportionately among\nthe shareholders whose assets were reduced, but only to the extent of such\nreduction.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14800","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:13Z","sha256":"10854997c2ba1e6c1253acffea947c2a0bbe4464fa58e779711c29806933e349","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.6-405","next":"us-ky/krs-286.6-425"},"notice":"GroundRules: Original legal text. Not legal advice."}