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BankersOnline.com Forums State-Specific Compliance Issues Kentucky Bank Director stock requirement
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#1661986 - 02/08/12 04:01 PM Bank Director stock requirement
IUalum Offline
Platinum Poster
IUalum
Joined: Mar 2002
Posts: 942
Kentucky
Does anyone know if there is still a state or federal law that mandates the amount of stock a person must own to be on a bank's board of directors?
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Opinions expressed are mine and not necessarily that of my employer.

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#1662503 - 02/09/12 01:59 PM Re: Bank Director stock requirement IUalum
IUalum Offline
Platinum Poster
IUalum
Joined: Mar 2002
Posts: 942
Kentucky
For anyone wondering, I talked to a state examiner and found out there is no stock requirement now for directors.
_________________________
Opinions expressed are mine and not necessarily that of my employer.

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#1662609 - 02/09/12 03:59 PM Re: Bank Director stock requirement IUalum
Irishguy Offline
Platinum Poster
Irishguy
Joined: Aug 2008
Posts: 613
Kentucky
Thanks for the update IU. I read your thread, but I didn't have an answer for you. I didn't think there was a requirement, but I had no idea where to begin looking other than the KRS. Thanks!

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#1675895 - 03/09/12 08:56 PM Re: Bank Director stock requirement IUalum
scottb Offline
Member
Joined: Sep 2006
Posts: 77
Better check your bylaws and possibley your articles...they may state a required minimum amount of shares to be held to be on the board.

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