2009 Kentucky Revised Statutes
Subtitle 9. Deferred Deposit Service Business and Check Cashing
286.9.102 Requirements of disclosure by licensees -- Fees and service charges -- Acceptance, payment, and deposit of checks.
U.S.C. sec. 1601). Proof of this disclosure shall be made available to the
commissioner upon request. (2) Each licensee shall conspicuously display a schedule of all fees, and charges for all services provided by the licensee that are authorized by this subtitle. The notice
shall be posted at each location where a licensee conducts its business under this
subtitle. (3) A licensee may charge, collect, and receive check collection charges made by a financial institution for each check returned or dishonored for any reason, provided
that the terms and conditions upon which check collection charges will be charged
to the customer are set forth in advance in the written disclosure. (4) Any personal check accepted from a customer must be payable to the licensee.
(5) Before a licensee shall present for payment or deposit a check accepted by the licensee, the check shall be endorsed with the actual name under which the licensee
is doing business. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 811, effective July 15, 2010. -- Amended 2009 Ky. Acts ch. 98, sec. 22, effective January 1, 2010. -- Created 1998 Ky. Acts
ch. 601, sec. 14, effective April 14, 1998. Formerly codified as KRS 368.102.
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
Kentucky Financial Services Code, KRS Chapter 286, and KRS references within
this statute have been adjusted to conform with the 2006 renumbering of that code.
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