No person shall advertise, represent or hold out to the public that any sale of goods is an insurance, bankruptcy, mortgage foreclosure, insolvent’s, assignee’s, executor‘s, administrator’s, receiver’s, trustee‘s, removal sale, going out of business sale or fire sale unless he first obtains a license to conduct the sale from the county clerk of the county in which he proposes to conduct the sale.
Effective: June 17, 1978

Terms Used In Kentucky Statutes 365.415

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Executor: A male person named in a will to carry out the decedent
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Trustee: A person or institution holding and administering property in trust.

History: Amended 1978 Ky. Acts ch. 384, sec. 493, effective June 17, 1978. — Created
1966 Ky. Acts ch. 60, sec. 2.

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