26RS SB 87

Actions

Last Action	01/14/26: to Committee on Committees (S)
Title	AN ACT relating to the provision of financial services and products by credit unions.
Bill Documents	Introduced
Bill Request Number	1394
Sponsor	G. Elkins
Summary of Original Version	Amend KRS 66.480 to allow local government and school district investments in United States obligations by a repurchase agreement with a credit union and in interest-bearing accounts issued through a credit union; amend KRS 41.010 to redefine "bank" and "state depository" to include credit unions; amend KRS 41.070 to prohibit receipts from being held, used, or deposited in a personal or special credit union account; amend KRS 41.220 to allow credit unions to be designated as state depositories; amend KRS 41.240, 41.250, 41.300, 30A.120, and 30A.200 to conform.
Index Headings of Original Version	Banks And Financial Institutions - Credit unions, designation as state depositories Education, Finance - Permissible investments, credit union financial products Funds - Credit unions, designation as state depositories Investments - Local government and school district, credit union financial products Local Government - Permissible investments, credit union financial products Treasurer - Credit unions, designation as state depositories