Section 286.3-103 - Investment in property(1) It is hereby declared to be the policy of the Commonwealth of Kentucky that the investment of funds, by a bank chartered under the laws of Kentucky or a national banking association having its principal office in Kentucky, in real and personal property as now or hereafter provided by this subtitle, be recognized as a normal, proper, necessary, and integral part of the legitimate business of such state or national banks.(2) All property owned and held by a state or national bank under this section shall be deemed to be property that is proper and necessary for carrying out its legitimate business within the meaning of KRS Chapter 271B or 275, or any section of the Kentucky Revised Statutes relating to escheat.Effective:7/12/2006
Amended 2006, Ky. Acts ch. 183, sec. 8, effective7/12/2006. -- Amended 1998, Ky. Acts ch. 196, sec. 10, effective 7/15/1998. -- Amended 1996, Ky. Acts ch. 338, sec. 11, effective 7/15/1996. -- Amended 1988 Ky. Acts ch. 23, sec. 182, effective 1/1/1989. -- Amended 1984 Ky. Acts ch. 324, sec. 12, effective 7/13/1984. -- Amended 1980 Ky. Acts ch. 188, sec. 242, effective 7/15/1980. --Created 1972 Ky. Acts ch. 187, sec. 1.