Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.3-135.Banker's bank authorized; limitations on holdings; issuance of charter

(1) Notwithstanding any other provisions of law, any bank doing business in the Commonwealth, whether state or nationally chartered, may purchase for its own account shares of a bank or bank holding company which owns or controls such a bank provided:

(2) In no event shall the total amount of stock held by a bank in any bank or bank holding company described in subsection (1) above exceed at any time ten percent (10%) of a bank's capital stock and paid in and unimpaired surplus and in no event shall the purchase of such stock result in a bank acquiring more than five percent (5%) of any class of voting securities of such bank or bank holding company.

(3) The commissioner is authorized to receive applications, hold hearings on such applications, and issue charters for a banker's bank.