HB 726 KY

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Amend various sections of Subtitles 1, 2, and 3 of KRS Chapter 286, the financial services code, to consolidate statutes; make technical corrections; make numerous revisions to the required banking experience of the financial institutions commissioner; the Financial Institutions Board; prohibited practices of financial institution examiners; application of chapter to national bank or federal savings association operating subsidiaries; examination of safe deposit boxes; transaction of business by foreign financial institutions; banking definitions; the transaction of banking or trust business in this state; state bank and trust company charter requirements; national bank parity authorizations; state bank investment powers; amend KRS 286.3-095 to require reporting for changes in control of bank holding companies that own a state bank; amend KRS 286.3-145 to modify the requirements for state trust companies doing business outside of Kentucky; amend KRS 286.3-146 to modify the requirements for out-of-state trust companies to do business in Kentucky; amend KRS 286.3-690 to permit the commissioner to remove a bank employee from office; amend various Subtitle 3 of KRS Chapter 286 relating to the definition of a receivership court for an insolvent bank; national bank to state bank conversions; state bank branching powers; bank holidays; pledges of bank assets; bank dividends, bank acquisitions, bank concentration limits; interstate merger transactions; out-of-state bank powers; and banking code penalties; create new sections of Subtitles 2 and 3 of KRS Chapter 286 to establish rules of application and interpretation, and establish regulatory authority of the commissioner; amend various sections to conform; repeal various sections within Subtitles 1, 2, and 3 of KRS Chapter 286 relating to financial institution commissioner appointments, improperly influencing real estate appraisals, financial institution definitions, foreign financial institutions, banking business powers; bank officers and directors; capital requirements for banks and trust companies; bank branch requirements; installment loans, educational loans to minors, and revolving credit plans; repeal Subtitle 5 of KRS Chapter 286, relating to the chartering and regulation of state savings and loan associations, except provision relating to transacting of business by out-of-state savings and loan associations; repeal Subtitles 7 and 10 of KRS Chapter 286, relating to the licensing and regulation of industrial loan corporations and title pledge lending; repeal KRS 365.205, relating to printing requirements for personal checks; provide for the initial and staggered appointments to the Financial Institutions Board.

• M. Meredith Republican · primary

1. Feb 26, 2024 introduced in House · lower
2. Feb 26, 2024 to Committee on Committees (H) · lower
3. Feb 27, 2024 to Banking & Insurance (H) · lower
4. Feb 28, 2024 reported favorably, 1st reading, to Calendar · lower
5. Feb 29, 2024 2nd reading, to Rules · lower
6. Mar 1, 2024 posted for passage in the Regular Orders of the Day for Monday, March 04, 2024 · lower
7. Mar 7, 2024 3rd reading, passed 95-0 · lower
8. Mar 8, 2024 received in Senate · upper
9. Mar 8, 2024 to Committee on Committees (S) · upper
10. Mar 21, 2024 to Banking & Insurance (S) · upper
11. Mar 26, 2024 reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1) · lower
12. Mar 27, 2024 2nd reading, to Rules as a consent bill · lower
13. Mar 27, 2024 posted for passage in the Consent Orders of the Day for Thursday, March 28, 2024 · lower
14. Mar 28, 2024 3rd reading, passed 38-0 with Committee Substitute (1) · lower
15. Mar 28, 2024 received in House · lower
16. Mar 28, 2024 to Rules (H) · lower
17. Mar 28, 2024 posted for passage for concurrence in Senate Committee Substitute (1) · lower
18. Mar 28, 2024 House concurred in Senate Committee Substitute (1) · lower
19. Mar 28, 2024 passed 91-1 with Committee Substitute (1) · lower
20. Mar 28, 2024 enrolled, signed by Speaker of the House · lower
21. Mar 28, 2024 enrolled, signed by President of the Senate · upper
22. Mar 28, 2024 delivered to Governor · lower
23. Apr 9, 2024 signed by Governor (Acts Ch. 152) · lower

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Acts Chapter 152 · PDF
• Current/Final · PDF
• Introduced · PDF