91.620 Capital stock of incorporated banks, trust companies, and guaranty or
127 words·~1 min read·
/ky/91-620A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
security companies -- Assessment procedure.
(1)Except as provided in subsection
(2)of this section, the shares of stock of every
incorporated bank, trust company, and guaranty or security company located in a
city of the first class or consolidated local government shall be assessed for taxes by
the city or consolidated local government assessor, to the extent and in the
proportion its business is done in the city or consolidated local government.
(2)No assessment for city or consolidated local government taxes shall be made upon
the shares of stock of any incorporated bank, trust company, or guaranty or security
company that pays an ad valorem tax on its real estate and a license tax in lieu of an
ad valorem tax on its personal estate.