Kentucky Statutes 380.130 – Prohibition of limitation on right of financial institution to collect valid debts
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Nothing in this chapter shall be construed to limit the ability of a financial institution licensed by KRS Chapter 286 from collecting on debts it is owed by a debtor.
Effective: July 15, 2010
History: Created 2010 Ky. Acts ch. 86, sec. 12, effective July 15, 2010.
Legislative Research Commission Note (7/15/2010). When this statute was created in
2010 Ky. Acts ch. 86, sec. 12, it contained a reference to “Nothing in Sections 1 to
12 of this Act.” The Reviser of Statutes has changed that language to read “Nothing in this chapter” under the authority of KRS § 7.136.
Effective: July 15, 2010
Terms Used In Kentucky Statutes 380.130
- Debtor: means an individual who resides in Kentucky and is indebted to a creditor or creditors, including two (2) or more individuals who are jointly and severally, or jointly or severally, indebted to a creditor or creditors. See Kentucky Statutes 380.010
- Statute: A law passed by a legislature.
History: Created 2010 Ky. Acts ch. 86, sec. 12, effective July 15, 2010.
Legislative Research Commission Note (7/15/2010). When this statute was created in
2010 Ky. Acts ch. 86, sec. 12, it contained a reference to “Nothing in Sections 1 to
12 of this Act.” The Reviser of Statutes has changed that language to read “Nothing in this chapter” under the authority of KRS § 7.136.