286.6 -505 First mortgage loans. Loans secured by first mortgages on real estate shall not exceed fifty percent (50%) of the credit union's unimpaired capital, unless the commissioner shall otherwise determine by regulation or by order in any special case. Effective: July 13, 1984 Histor y: Created 1984 Ky. Acts ch. 408, sec. 51, effective July 13, 1984. Formerly codified as KRS 290.505. 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 sectio n of the Kentucky Financial Services Code, KRS Chapter 286.
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