2011 Kentucky Revised Statutes
Subtitle 4. Consumer Loan Companies
Download pdf286.4-991 Penalties.
Any person who shall engage in the business regulated by this subtitle without first
securing a license therefor shall be guilty of a misdemeanor and upon conviction
thereof shall be punished by a fine of not less than five hundred dollars (0) nor
more than five thousand dollars (,000). Any loan contract made in violation of
this subtitle shall be void and the lender shall have no right to collect any principal,
charges or recompense whatsoever.
Any person who willfully violates any rule or order of the commissioner authorized
under this subtitle, shall be guilty of a Class A misdemeanor, but no person may be
imprisoned for violation of any rule or order of which that person did not have
actual knowledge. This section shall not be deemed to limit the power of the
commissioner to revoke any license as provided in KRS 286.4-490.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 672, effective July 15, 2010. -- Amended
2000 Ky. Acts ch. 157, sec. 6, effective July 14, 2000. -- Created 1960 Ky. Acts
ch. 204, sec. 26, effective June 16, 1960.
Formerly codified as KRS 288.991.
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.
KY Rev Stat § 286.4.991 (1996 through Reg Sess) What's This?
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