286.6 -005 Definitions. As used in this subtitle, unless the context otherwise requires: (1) 'Credit union' means a cooperative, nonprofit association, incorporated under this subtitle, for the purposes of encouraging thrift among its members, creating a source of credit at a fai r and reasonable rate of interest, and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition. (2) 'Commissioner' means the commissioner of financial institu tions. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 714, effective July 15, 2010. -- Created 1984 Ky. Acts ch. 408, sec. 1, effective July 13, 1984. Formerly codified as KRS 290.005 Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumberi ng of that code.
Kentucky Legal Code