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155.010 Definitions.

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155.010 Definitions. As used in this section and KRS 155.080 and 155.090, unless the context otherwise <br>requires: <br>(1) &quot;Corporation&quot; means a business development corporation created under this section and KRS 155.080 and 155.090. (2) &quot;Financial institution&quot; means any banking corporation or public or private pension or retirement fund, trust company, building and loan association, insurance <br>company or related corporation, partnership, foundation, or other institution <br>engaged in lending or investing funds. (3) &quot;Member&quot; means any financial institution authorized to do business within this Commonwealth which undertakes to lend money to a corporation created under this <br>section and KRS 155.080 and 155.090, upon its call, and in accordance with the <br>provisions of this section and KRS 155.080 and 155.090. (4) &quot;Board of directors&quot; means the board of directors of the corporation created under this section and KRS 155.080 and 155.090. (5) &quot;Loan limit&quot; means for any member, the maximum amount permitted to be outstanding at one (1) time on loans made by such member to the corporation, other <br>than short term loans, as determined under the provisions of KRS 155.080 and <br>155.090. (6) &quot;Short term loans&quot; means loans to the corporation made for that period not to exceed one (1) year and not to exceed one million dollars (&#36;1,000,000). History: Amended 1966 Ky. Acts ch. 212, sec. 1. -- Created 1960 Ky. Acts ch. 73, sec. 2.