Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.3-020.Approval of application for charter; prerequisites to financial institution doing business under its charter

(a) Whether conditions in the community indicate reasonable assurance of successful operation for the proposed institution;

(b) Whether the organizational and capital structure and amount of capitalization is adequate for the business plan; and

(c) Whether the officers and directors have sufficient experience, ability, standing, and reputation to provide reasonable assurance of successful operation and of compliance with the law.

(a) The oaths of all directors have been taken;

(b) The commissioner has received satisfactory proof that the accounts of the banking institution's depositors will be insured by the Federal Deposit Insurance Corporation; and

(c) The commissioner has received satisfactory proof that the institution has subscribed and paid in the required capital and has otherwise fully complied with all pertinent laws and administrative regulations.