<br><br>91.620 Capital stock of incorporated banks, trust companies, and guaranty or <br>security companies -- Assessment procedure. <br>(1) Except as provided in subsection (2) of this section, the shares of stock of every <br>incorporated bank, trust company, and guaranty or security company located in a <br>city of the first class or consolidated local government shall be assessed for taxes by <br>the city or consolidated local government assessor, to the extent and in the <br>proportion its business is done in the city or consolidated local government. <br>(2) No assessment for city or consolidated local government taxes shall be made upon <br>the shares of stock of any incorporated bank, trust company, or guaranty or security <br>company that pays an ad valorem tax on its real estate and a license tax in lieu of an <br>ad valorem tax on its personal estate. <br>Effective: July 15, 2002 <br>History: Amended 2002 Ky. Acts ch. 346, sec. 101, effective July 15, 2002. -- <br>Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. <br>sec. 2984a-1. <br><br>