Kentucky Statutes 434.330 – Broker not to pledge or dispose of customer’s securities without customer’s consent
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Any broker who has in his possession any money, stocks, bonds, securities, or other things of value belonging to a customer, without having any lien on them or any special property in them, and pledges them or disposes of them without the customer’s consent, shall be guilty of a Class D felony.
Effective: July 14, 1992
For details, see § 532.060
History: Amended 1992 Ky. Acts ch. 463, sec. 49, effective July 14, 1992 — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 1376kk-2.
Effective: July 14, 1992
Attorney's Note
Under the Kentucky Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class D felony | between 1 and 5 years | between $1,000 and $10,000 |
Terms Used In Kentucky Statutes 434.330
- Lien: A claim against real or personal property in satisfaction of a debt.
History: Amended 1992 Ky. Acts ch. 463, sec. 49, effective July 14, 1992 — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 1376kk-2.