Section 286.3-490 - Reports to be made to commissioner - Contents - Information from officer, director, or board to commissioner(1) Every institution under the supervision of the department shall make a report to the commissioner whenever required by the commissioner to do so. The commissioner shall not require more than five (5) reports from any one (1) institution in any one (1) year, unless he or she deems it necessary in order to obtain complete information.(2) The reports shall show the actual condition of the bank making the report at the close of business on a date designated by the commissioner and shall specify any information required by the commissioner.(3) Any officer, director, or board of directors of a bank or trust company shall immediately notify the commissioner concerning any information relating to that financial institution of which they have personal knowledge, involving fraud, defalcation, misfeasance, or violations of this subtitle. Failure to so notify the commissioner shall be grounds for officer or director removal pursuant to KRS 286.3-690.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 643, effective7/15/2010. -- Amended 1998, Ky. Acts ch. 196, sec. 18, effective 7/15/1998. -- Amended 1986 Ky. Acts ch. 444, sec. 11, effective 7/15/1986. -- Amended 1984 Ky. Acts ch. 324, sec. 35, effective 7/13/1984. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective 10/1/1942, from Ky. Stat. sec. 165a-10.