2009 Kentucky Revised Statutes Subtitle 4. Consumer Loan Companies 286.4.470 Limitation on locations at which business may be conducted -- Construction of subtitle regarding types of loans.
286.4-470 Limitation on locations at which business may be conducted --
Construction of subtitle regarding types of loans.
(1) No licensee shall conduct the business authorized by this subtitle in any office,
room, or place of business in which any other business, except purchase of retail <br>and installment sales contracts and motor club memberships, is solicited or engaged <br>in, or in association or conjunction therewith, except upon a written authorization <br>from the commissioner.
(2) Nothing in this subtitle shall be construed to limit the loans of any licensee to
residents of the community in which the licensed place of business is situated, nor <br>to prohibit the making and collecting of loans by mail.
(3) Nothing in this subtitle shall be construed to limit the ability of any licensee to
make a loan or loans in the principal amount greater than fifteen thousand dollars <br>($15,000) at the licensed location at the same rates as provided in KRS 360.010.
Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 661, effective July 15, 2010. -- Amended
1998 Ky. Acts ch. 198, sec. 3, effective July 15, 1998. -- Created 1960 Ky. Acts <br>ch. 204, sec. 7.
Formerly codified as KRS 288.470. <br>Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts
ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the <br>Kentucky Financial Services Code, KRS Chapter 286, and KRS references within <br>this statute have been adjusted to conform with the 2006 renumbering of that code.
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