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Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.3-027.Prohibition against use of certain banking-related words and characters or financial institution trademarks by unauthorized person; exceptions; enforcement and penalties

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Except as provided in subsection (2) of this section, a person doing business in this state shall not use the term “bank,” “banker,” “banking,” “trust,” or a similar term, which may include without limitation a character, ideogram, phonogram, phrase, or foreign language word, in its name, including any use of the name on stationery or marketing material or in solicitations or advertising, in a manner that would imply to the public that the person is engaged in the banking or trust business.

(2) A person may use a term prohibited by subsection (1) of this section if the person is authorized:

(a) Under its charter, or the laws of this state or the United States, to use the term in its name; and

(b) By the laws of this state or the United States to conduct the activities in which it is engaged in this state.

(3)(a) The commissioner shall levy a civil penalty against any person that violates this section.

(b) The civil penalty shall be not less than one thousand dollars ($1,000) nor more than five thousand dollars ($5,000) per violation, plus the state's costs and expenses for the examination, investigation, and prosecution of the matter, including reasonable attorney's fees and court costs.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.3-027.Prohibition against use of certain banking-related words and characters or financial institution trademarks by unauthorized person; exceptions; enforcement and penalties - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxv-business-and-financial-institutions/ky-rev-st-sect-286-3-027/

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