Interest charged by a broker or dealer registered under the Securities Exchange Act of 1934, as amended, or registered under KRS 292.330, as now or hereafter amended, on a debit balance in an account for a customer, shall be exempt from the provisions of KRS Chapter 360 if such debit balance is payable at will without penalty and is secured by securities as defined in Uniform Commercial Code -- Article 8. Investment Securities.
KRS 292.545
Interest charges by broker or dealer
Known as the Securities Act
The act spans §§ 292–292 (93 sections).
History: Created 1972 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.