There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 9. Deferred Deposit Service Business and Check Cashing
286.9.035 Deferred deposit transaction agreement with unlicensed person void.
Download pdfinterest, charges, or recompense whatsoever. (2) The commissioner may void a deferred deposit transaction agreement when it is determined by the commissioner that the licensee has violated any provision of this
subtitle. The licensee shall be allowed to recover from the customer any principal
paid by the licensee to the customer, but the licensee shall not recover any service
fee or other charge related to the deferred deposit transaction. (3) For purposes of this section, "payment instrument" also includes debit authorization, electronic funds transfer, and any other form of electronic
transmission of money. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 799, effective July 15, 2010. -- Created 2009 Ky. Acts ch. 98, sec. 7, effective January 1, 2010.
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