•

Kentucky
General Assembly

•
Search

Title 808 | Chapter 015 | Regulation 050REG

PROPOSED
This document is not yet current.
PREVIOUS VERSION
The previous document that this document is based upon is available.
View Previous Version
PUBLIC PROTECTION CABINET
Department of Financial Institutions
Division of Depository Institutions
(Amended at ARRS Committee)

808 KAR 15:050.Out-of-state trust companies operating in Kentucky.

RELATES TO:

KRS 286.3-146

STATUTORY AUTHORITY:

KRS 286.1-020(1), KRS 286.3-146(2)(a)2

NECESSITY, FUNCTION, AND CONFORMITY:

KRS 286.1-020(1) authorizes the commissioner to promulgate administrative regulations to interpret and carry out the provisions and intent of KRS Chapter 286. KRS 286.3-146(2)(a)2 authorizes the commissioner to promulgate an administrativea regulation to prescribe the form and format of filings required by KRS 286.3-146(2)out-of-state trust companies' notice of intent to conduct the activities outlined in KRS 286.3-146(1) in Kentucky. This administrative regulation establishes the procedure by which an out-of-state trust company, without a physical location in Kentucky, may comply with KRS 286.3-146(2)file a written notification of their intent to conduct the activities outlined in KRS 286.3-146(1) within Kentucky.

Section 1.

An out-of-state trust company shallwithout a physical location in Kentucky may conduct activities authorized under KRS 286.3-146(1) in Kentucky if they submit a completed "Notification by Out-of-State Trust Company of Business Activity" Form to the department at least thirty (30) days prior to commencing business pursuant to KRS 286.3-146(2)engaging in activities authorized under KRS 286.3-146(1) in Kentucky.

Section 2.

Incorporation by Reference.

(1)

Form B-1, "Notification by Out-of-State Trust Company of Business Activity", DecemberJuly 12, 2024, is incorporated by reference.

(2)

This material may be inspected, copied, or obtained, subject to applicable copyright law, at the Department of Financial Institutions, 500 Mero St 2SW19, Frankfort, Kentucky 40601, Monday through Friday, 8:00 a.m. to 5:00 p.m. This material may also be obtained from the department's Web site at https://kfi.ky.gov/new_docs.aspx?cat=56https://kfi.ky.gov/new_docs.aspx?cat=65.
FILED WITH LRC: December 9, 2024
CONTACT PERSON: Kathryn Adams-Cornett, Staff Attorney, and Marni Gibson, Commissioner, Dept. of Financial Institutions, 500 Mero Street, 2SW19, Frankfort, Kentucky 40601, phone 502-782-9065, fax 502-573-8787, email katie.adams@ky.gov or Marni.Gibson@ky.gov.

7-Year Expiration: 7/17/2031

Last Updated: 12/17/2024

Download PDF (.pdf) Download Word (.docx)
Page Generated: 9/19/2024, 12:15:11 PM