§ 286.4-410 Definitions — Application of subtitle
§ 286.4-420 License required for finance companies — Evidence of existing licenses
§ 286.4-425 Commissioner’s coordination with State Regulatory Registry and other agencies
§ 286.4-430 Form of application — Contents
§ 286.4-440 Application and license fees
§ 286.4-450 Bonding requirements for applications submitted on or after January 1, 2020 — Demonstration of financial condition — Managing principal — Background check — Incomplete application — Approval or rejection of application — Time limit — Appeal –
§ 286.4-460 License — Contents — Transfer — Place of business — Change — Name on license
§ 286.4-465 Approval of change of control — Application — Fees — Determination of whether proposed transaction constitutes change of control
§ 286.4-470 Limitation on locations at which business may be conducted — Construction of subtitle regarding types of loans
§ 286.4-480 Duration of license — Payment of annual fee — Expiration — Reinstatement
§ 286.4-490 Reasons for adverse action or cease-and-desist order — Locations at which adverse action applies — Eligibility if license revoked — Effect of adverse action — Complaint — Relief — Civil penalty
§ 286.4-495 Emergency orders — Grounds — Hearing — Duration of emergency order
§ 286.4-500 Notice of license denial — Administrative complaint — Hearings and final orders — Findings — Service by certified mail
§ 286.4-505 Administrative hearing for person or licensee aggrieved by final decision of commissioner
§ 286.4-520 Prohibited advertisements and statements
§ 286.4-530 Basic, default, and deferment charges — Prohibition against division of loan and excessive charges
§ 286.4-533 Authorized charges for extension of credit
§ 286.4-535 Closing costs collectible when liens on real estate taken as security
§ 286.4-540 Duties of licensee
§ 286.4-545 Agent for service of process
§ 286.4-547 Compliance with federal and state laws — Regulatory penalties
§ 286.4-550 Time of installment payments
§ 286.4-560 Insurance
§ 286.4-570 Wage purchases — Assignment of compensation
§ 286.4-580 Prohibited conduct — No contract or loan without scheduled repayment — Lien on real estate as security
§ 286.4-590 Licensee to make annual report
§ 286.4-600 Licensee’s records — Retention — Notice of cessation — Custodian of records — Request for destruction — Withholding or altering records
§ 286.4-605 Confidential and privileged documents — Commissioner’s powers — Privilege or claim of confidentiality not waived
§ 286.4-610 Commissioner’s power to issue administrative regulations and examine licensees — Investigations — Enforcement of subpoena — Powers of commissioner
§ 286.4-613 Effect of conformity with notice, opinion, or interpretation of commissioner
§ 286.4-615 Commonwealth or its employees not liable for failure to disclose financial condition of consumer loan company
§ 286.4-620 Public policy relating to loans of $15,000 or less — Loans outside state
§ 286.4-640 Effect of future amendment of this subtitle
§ 286.4-990 Civil penalties — Actions by commissioner against violators — Recovery of penalties and fees
§ 286.4-991 Penalties

Terms Used In Kentucky Statutes > Chapter 286 > Subtitle 4 - Consumer Loan Companies

  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
  • Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Applicant: means a person filing an application under this subtitle. See Kentucky Statutes 286.4-410
  • Appraisal: A determination of property value.
  • Attorney: means attorney-at-law. See Kentucky Statutes 446.010
  • 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.
  • Biennium: means the two (2) year period commencing on July 1 in each even- numbered year and ending on June 30 in the ensuing even-numbered year. See Kentucky Statutes 446.010
  • 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
  • Certified mail: means any method of governmental, commercial, or electronic delivery that allows a document or package to have proof of:
    (a) Sending the document or package. See Kentucky Statutes 446.010
  • City: includes town. See Kentucky Statutes 446.010
  • Commissioner: means the commissioner of the Department of Financial
    Institutions. See Kentucky Statutes 286.1-010
  • Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Consumer loan company: means a person licensed under this subtitle to engage in the business of making loans to a consumer for personal, family, or household use in the amount or value of fifteen thousand dollars ($15,000) or less. See Kentucky Statutes 286.4-410
  • Contract: A legal written agreement that becomes binding when signed.
  • Control: means the power to direct the management or policies of a licensee or applicant, whether through ownership of securities, by contract, or otherwise. See Kentucky Statutes 286.4-410
  • Conviction: A judgement of guilt against a criminal defendant.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the Department of Financial Institutions. See Kentucky Statutes 286.1-010
  • Devise: To gift property by will.
  • Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Executive officer: means a natural person holding the title or responsibility of president, vice president, chief executive officer, chief financial officer, chief operational officer, or chief compliance officer. See Kentucky Statutes 286.4-410
  • Executor: A male person named in a will to carry out the decedent
  • Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Licensee: means a person licensed under this subtitle. See Kentucky Statutes 286.4-410
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Managing principal: means a natural person who meets the requirements of KRS §. See Kentucky Statutes 286.4-410
  • Material fact: means a fact that a reasonable person knows, or should know, that could reasonably be expected to influence any decision or action taken by the commissioner under this subtitle. See Kentucky Statutes 286.4-410
  • Mistrial: An invalid trial, caused by fundamental error. When a mistrial is declared, the trial must start again from the selection of the jury.
  • Month: means calendar month. See Kentucky Statutes 446.010
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: means a natural person, or any type or form of corporation, company, partnership, proprietorship, association, or other legal entity. See Kentucky Statutes 286.1-010
  • Personal property: All property that is not real property.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Venue: The geographical location in which a case is tried.
  • Victim advocate: work with prosecutors and assist the victims of a crime.
  • Violate: includes failure to comply with. See Kentucky Statutes 446.010
  • Year: means calendar year. See Kentucky Statutes 446.010