286.6 -275 Loan officers -- Appeal from disapproval of loan. (1) The credit committee may appoint one (1) or more loan officers and delegate the power to approve or disapprove loans, subject to such limitations or conditions as the credit committee prescribes. (2) Where a credit manager is provided in lieu of a credit committee, the credit manager may appoint one (1) or more loan officers with the power to approve or disapprove loans, subject to such limitations or conditions as the credit manager prescribes. (3) A member whose application was disapproved by a loan off icer may appeal such action to the credit committee or credit manager, as appropriate under the bylaws. Effective: July 13, 1984 History: Created 1984 Ky. Acts ch. 408, sec. 28, effective July 13, 1984. Formerly codified as KRS 290.275. Legislative Resear ch 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.
Kentucky Legal Code