286.6 -315 Capital of credit union. (1) The capital of a credit union consists of the aggregate amount of the share and deposit accounts of its members plus all reserves and undivided earnings. (2) Shares may be subscribed to, paid for and transferred in such manner as the bylaws prescribe. Effective: July 13, 1984 History: Created 1984 Ky. Acts ch. 408, sec. 32, effective July 13, 1984. Formerly codified as KRS 290.315. Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute ha s been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286.
Kentucky Legal Code