Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.3-900.Definitions of terms used in this section and KRS 286.3-905; acquisition of in-state banks; limitations; in-county merger or consolidation

1. Any institution organized under this subtitle, the banking laws of another state, or the National Bank Act, as amended, to do a banking business; or

2. A bank as defined in 12 U.S.C. sec. 1841, as amended;

1. Any corporation, partnership, business trust, association, or similar organization, or any other trust unless by its terms it must terminate within twenty-five (25) years or not later than twenty-one (21) years and ten (10) months after the death of individuals living on the effective date of the trust, but shall not include:

2. A company as defined in12 U.S.C. sec. 1841, as amended;

1. Has the same meaning as in 12 U.S.C. sec. 1841(a)(2) and (3), as in effect on July 15, 2024, or as amended; and

2. May be acquired by acquisition of voting securities, by purchase of assets, by merger or consolidation, by contract, or otherwise;

1. Except as provided in subparagraph 2. of this paragraph, has the same meaning as in 12 U.S.C. sec. 1813, as in effect on July 15, 2024, or as amended; and

2. Does not include interbank deposits and deposits in foreign branches and international banking facilities, as shown in the reports made by federally insured depository institutions to their respective supervisory authorities; and

1. Means a natural person, partnership, association, business trust, voting trust, or similar organization; and

2. Does not include a corporation.

1. An emergency exists; and

2. The acquisition is appropriate in order to prevent the probable failure of the bank which is closed or is in danger of closing.

1. Commissioner, in his or her discretion, if the bank is organized under the laws of this state; or

2. Comptroller of the currency, in his or her discretion, if the bank is a national bank.