{"data":{"id":"us-ky/krs-286.8-075","jurisdiction":"us-ky","citation":"KRS 286.8-075","heading":"Change of control.","body":"(1) As used in this section, \"change of control\" means:\n(a) A transfer of voting stock which results in giving a person, directly or\nindirectly, the power to direct the management and policy of a mortgage loan\ncompany or mortgage loan broker; or\n(b) A transfer of at least ten percent (10%) of the outstanding voting stock of a\nmortgage loan company or a mortgage loan broker.\n(2) A transfer of voting stock of a mortgage loan company or mortgage loan broker\nwhich constitutes a change of control shall be approved i n writing by the\ncommissioner, prior to the transfer.\n(3) The owner, president, chief executive officer or a partner shall apply to the\ncommissioner for approval of a transfer of voting stock in his mortgage loan\ncompany or mortgage loan broker which const itutes a change of control. The\napplication must contain information which shows that the requirements of this\nsubtitle for obtaining a license will be satisfied after the change of control.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14865","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:14Z","sha256":"3fe7243378e2679d20b7d022fd3eb3e3b2e6382f98557d577be4a759a9ffd718","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.8-070","next":"us-ky/krs-286.8-080"},"notice":"GroundRules: Original legal text. Not legal advice."}