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KCFA Member Update - December 2020

KCFA Member Update

A few items we wanted to highlight...and one that needs your ATTENTION! Thanks for being a KCFA member!!!

KCFA Website

KCFA now has a presence on the internet. The site is live at kycfa.org The initial impetus for the site is twofold: 1. To give us a platform to accept electronic payments for member dues and 2. To give us a landing page for updating you on association business. But the website is very dynamic and easy to update, so we will be looking to use it in numerous ways. Check it out at kycfa.org

ByLaws Approved

At the recent Board of Directors meeting, the Advisory Board recommended several changes to the Association's By-Laws. The proposed changes summarized below, were unanimously approved by the KCFA membership on Nov. 6, via voting that occurred via electronic mail.

- Allows for meetings and votes of the Association to be conducted via phone or video conference.
- Changes the dues policy to mirror the minimum dues level with that of associate members.
- Changes the audit policy to require a full audit every third year and allows for a compilation audit in other years. Both have to be done by a CPA.
 

If you have questions or want a copy of the amended bylaws let me know.

2021 Membership Renewal

Per the KCFA bylaws, the annual renewal of membership and the paying of dues is to be completed by January 31, 2021. In order to provide some flexibility to members that may want to pay in the current calendar year we are going to begin the annual renewal process now. A few items of note:

- You can pay your dues and renew your membership online at kycfa.org You can download the certification form, fill it out, scan it in and attach it on the electronic payment page.

- If you are a consumer loan company review these docs: Dues Letter-FM & Certification

- If you are an associate member review this doc: Dues Letter-AM

- Renewal notices will go out from our office on Dec. 15 by regular and electronic mail.

Please let me know if you have any questions.

Legislative Update

Lot of political happenings since our last update, so here is what you need to know:

Election Results - 3 Things to Know

1. Kentucky returned our entire congressional delegation to Washington, including Sen. McConnell who has been elected to be the leader of the Senate Republicans.

2. Republicans made large gains in the KY State House and Senate. The GOP now controls the House 75-25 and the Senate 30-8.

3. Lots of new faces are coming to Frankfort. There will be 28 freshmen in the 2021 General Assembly, 22 in the House and 6 in the Senate.

Leadership & Chairs - 3 Things to Know

After state legislative elections there are elections for leadership and sometimes changes in committee chairs. Here are the key takeaways of recent announcements:

1. No change in Senate GOP Leadership. Senate Democrat Leadership filled a vacancy at Caucus Chair with Sen. Reggie Thomas

2. House GOP Leadership had a vacancy at Floor Leader and Rep. Steven Rudy was elected as the new House Majority Floor Leader. No change in House Democrat Leadership.

3. No changes to the House or Senate Banking & Insurance Chairmen, those will continue to be Rep. Bart Rowland & Sen. Jared Carpenter.

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