Ky. Rev. Stat. § 286.7-535

Current through 2024 Ky. Acts ch. 225
Section 286.7-535 - Commonwealth or its employees not liable for failure to disclose financial condition of industrial loan company

In undertaking the examination of any industrial loan company, neither the Commonwealth of Kentucky, the commissioner of the Department of Financial Institutions, nor any examiner employed by the Commonwealth shall become liable to any depositor, investor or other obligor of said industrial loan company by reason of said examination or omission of such examination to fully and effectively disclose the financial condition of said industrial loan company, it being the policy of the Commonwealth of Kentucky that such examinations as are required by KRS 286.7-530 are for the purpose of determining compliance with state law and not for the purpose of protecting or guaranteeing the depositors, investors or other obligors of said industrial loan companies.

KRS 286.7-535

Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 756, effective7/15/2010. -- Created 1980 Ky. Acts ch. 357, sec. 4, effective 7/15/1980.