HB680: AN ACT relating to commercial financing.
Legislative Summary
Establish Subtitle 13 of KRS Chapter 286, and create new sections thereof, to define terms; establish exemptions; require certain commercial financing providers to register with the commissioner of the Department of Financial Institutions to engage in business; establish commercial financing trade practice standards and disclosure requirements for commercial financing transactions; establish penalties and exclusive enforcement by the financial institutions commissioner; provide that Subtitle 13 of KRS Chapter 286 may be cited as the Kentucky Commercial Financing Disclosure Law; direct that the provisions apply to contracts entered on or after January 1, 2026; EFFECTIVE January 1, 2026.
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Bill History
Status Information
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