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Can you summarize 808 KYAR 15:040?
General [Current] > Multibank Companies. [Current]
Short Summary
808 KAR 15:040. Multibank Companies. RELATES TO: KRS 286.3-095, 286.3-905 STATUTORY AUTHORITY: KRS 286.1-011(2), 286.3-020 NECESSITY, FUNCTION, AND CONFORMITY: KRS 286.1-011(2) requires the Department of Financial Institutions to exercise all administrative functions of the state in relation to the regulation, supervision, chartering, and licensing of banks. KRS 286.3-020 authorizes the commissioner to approve applications for a bank or trust company charter. KRS 286.3-095 and 286.3-905 set forth statutory procedures for filing applications by a bank holding company or individual to acquire control of a state-chartered bank or bank holding company that controls a state-chartered bank; the setting of filing and examination fees; and the examination of any holding company that controls a state-chartered bank. This administrative regulation establishes the procedures to be used in the application and examination processes. HISTORY: (45 Ky.R. 2283, 2914; eff. 5-3-2019.)
Jurisdiction
Kentucky