286.6 -495 Line of credit. Upon written application by a member, the credit committee or credit manager may approve a self -replenishing line of credit, and loan advances may be granted to the member within the limit of such line of credit. Where a line of credit has been approved, no additional loan application is required as long as the aggregate indebtedness does not exceed the approved limit. Effective: July 13, 1984 History: Created 1984 Ky. Acts ch. 408, sec. 50, effective July 13, 1984. Formerly codified as KRS 290.495. Legisl ative 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.
Kentucky Legal Code