Kentucky Statutes 367.4778 – Status of holder or assignee of consumer credit contract — Limitation on liability
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Any holder or assignee of a consumer credit contract shall be subject to the claims and defenses that the consumer has against the seller or lessor of recreational and retirement use land notwithstanding whether the sale or lease is for a specific portion of real property; an undivided interest in real property; or an easement, license, lease, or other right to use real property. The liability of the assignee or holder under this statute shall not exceed the amount due on the contract.
Effective: July 14, 1992
History: Created 1992 Ky. Acts ch. 209, sec. 4, effective July 14, 1992.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 18, (4) at 1643.
Effective: July 14, 1992
Terms Used In Kentucky Statutes 367.4778
- branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Statute: A law passed by a legislature.
History: Created 1992 Ky. Acts ch. 209, sec. 4, effective July 14, 1992.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 18, (4) at 1643.