No person shall, without first obtaining a license from the commissioner, engage in the business of making loans in the amount or of the value of fifteen thousand dollars ($15,000) or less at a greater rate of interest, or consideration therefor than otherwise permitted by law. All persons licensed under the provisions of this subtitle on July 15, 1982, are licensed to make loans pursuant to this subtitle, and the commissioner shall, upon request, deliver evidence of licensing within ninety (90) days of such request.
KRS 286.4-420
License required for finance companies -- Evidence of existing licenses
Applied in 1 court decision — leading case Kiskaden v. LVNV Funding, LLC (In re Kiskaden) (2017)
Most recently applied in Kiskaden v. LVNV Funding, LLC (In re Kiskaden) (April 2017)
Effective: July 15, 2010 History: Amended 2010 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.