HB88: AN ACT relating to unlawful trade practices and declaring an emergency.

Legislative Summary

Repeals, reenacts, and amends KRS 286.2-685 as a new section of Subtitle 3 of KRS Chapter 286 to make technical amendments, to remove prohibition against use of financial institution names in certain marketing and solicitations, and to establish a civil penalty for violation; amends KRS 324.160 to establish that violation of section regulating real estate service agreements by real estate licensees is improper conduct; creates a new section of KRS Chapter 367 to prohibit the use of financial institution names in the marketing and solicitations of persons who are not financial institutions in certain circumstances, to authorize enforcement by the Attorney General and any trade organization representing one or more financial institution industries, and to establish remedies for violation; creates a new section of KRS Chapter 367 to regulate certain real estate service agreements, to make recording of certain real estate service agreements a crime, to provide penalties for violation of recording prohibition, to authorize enforcement of the section by the Attorney General, and to authorize the Attorney General to promulgate administrative regulations; makes certain violations unfair, false, misleading, or deceptive trade practices in violation of KRS 367.170; provides that the provisions of the Act are severable; RETROACTIVE, in part; EMERGENCY.