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House Bill 88

Actions | Amendments
Last Action 04/04/24: signed by Governor (Acts Ch. 76)
Title AN ACT relating to unlawful trade practices and declaring an emergency.
Bill Documents Acts Chapter 76
Current/Final
Introduced
Fiscal Impact Statements Corrections Impact
Local Mandate
Additional Fiscal Impact Statements Exist
Bill Request Number 159
Sponsors M. Meredith, M. Pollock, A. Bowling, S. Bratcher, R. Bridges, B. Chester-Burton, M. Clines, P. Flannery, A. Gentry, K. Jackson, DJ Johnson, W. Lawrence, D. Lewis, S. Lewis, M. Lockett, S. McPherson, D. Meade , S. Miles, K. Moser, R. Roarx, W. Williams
Summary of Enacted Version Repeals, reenacts, and amends KRS 286.2-685 as a new section of Subtitle 3 of KRS Chapter 286 to make technical amendments, to remove prohibition against use of financial institution names in certain marketing and solicitations, and to establish a civil penalty for violation; amends KRS 324.160 to establish that violation of section regulating real estate service agreements by real estate licensees is improper conduct; creates a new section of KRS Chapter 367 to prohibit the use of financial institution names in the marketing and solicitations of persons who are not financial institutions in certain circumstances, to authorize enforcement by the Attorney General and any trade organization representing one or more financial institution industries, and to establish remedies for violation; creates a new section of KRS Chapter 367 to regulate certain real estate service agreements, to make recording of certain real estate service agreements a crime, to provide penalties for violation of recording prohibition, to authorize enforcement of the section by the Attorney General, and to authorize the Attorney General to promulgate administrative regulations; makes certain violations unfair, false, misleading, or deceptive trade practices in violation of KRS 367.170; provides that the provisions of the Act are severable; RETROACTIVE, in part; EMERGENCY.
Legislative History
Summary of Original Version Repeal, reenact, and amend KRS 286.2-685 as a new section of Subtitle 3 of KRS Chapter 286 to make technical amendments; remove prohibition against use of financial institution names in certain marketing and solicitations; establish a civil penalty for violation of section; establish a new section of KRS Chapter 367 to prohibit the use of financial institution names in the marketing and solicitations of persons who are not financial institutions in certain circumstances; make violation of section an unfair, false, misleading, or deceptive trade practice in violation of KRS 367.170; authorize enforcement by the Attorney General and any trade organization representing one or more financial institution industries; establish remedies for violation of section; establish a new section of KRS Chapter 367 to regulate certain real estate service agreements; make recording of certain real estate service agreements a crime and provide penalties for violation of recording prohibition; make violation of section an unfair, false, misleading, or deceptive trade practice in violation of KRS 367.170; authorize enforcement of section by Attorney General; authorize Attorney General to promulgate administrative regulations; amend KRS 324.160 to establish that violation of section regulating real estate service contracts by real estate licensees is improper conduct; provide that the provisions of the Act are severable; RETROACTIVE, in part; EMERGENCY.
Index Headings of Original Version Effective Dates, Emergency - Attorney General, unlawful enforcement of trade practices
Real Estate - Licensees, unlawful trade practices, service agreements, improper conduct
Real Estate - Service agreements, unlawful trade practices
Trade Practices and Retailing - Financial institution names, unlawful use
Trade Practices and Retailing - Real estate service agreements, regulation
Retroactive Legislation - Unlawful real estate service agreements
Administrative Regulations and Proceedings - Attorney General, unlawful financial trade practices enforcement
Administrative Regulations and Proceedings - Attorney General, unlawful real estate trade practices enforcement
Advertising - Financial institution names, unlawful use
Banks and Financial Institutions - Financial institution names, unlawful use
Banks and Financial Institutions - Use of certain banking terms in name, prohibition
Consumer Affairs - Financial institution names, unlawful use
Consumer Affairs - Residential real estate, unlawful trade practices
Contracts - Unlawful real estate service agreements
Corrections Impact - Unlawful financial trade practices enforcement
Local Mandate - Unlawful financial trade practices enforcement
Jump to Proposed Amendments House Committee Substitute 1 with Fiscal Impact Statements
House Floor Amendment 1
Senate Committee Amendment 1
Votes Vote History

Actions

Top | Amendments
01/02/24
  • introduced in House
  • to Committee on Committees (H)
01/09/24
  • to Banking & Insurance (H)
01/10/24
  • reported favorably, 1st reading, to Calendar with Committee Substitute (1)
01/11/24
  • 2nd reading, to Rules
01/12/24
  • posted for passage in the Regular Orders of the Day for Tuesday, January 16, 2024
01/16/24
  • floor amendment (1) filed to Committee Substitute
01/17/24
  • 3rd reading, passed 93-0 with Committee Substitute (1) and Floor Amendment (1)
01/18/24
  • received in Senate
  • to Committee on Committees (S)
01/22/24
  • to Banking & Insurance (S)
02/27/24
  • reported favorably, 1st reading, to Calendar with Committee Amendment (1)
02/28/24
  • 2nd reading, to Rules
03/15/24
  • posted for passage in the Regular Orders of the Day for Thursday, March 21, 2024
03/21/24
  • passed over and retained in the Orders of the Day
03/22/24
  • 3rd reading, passed 36-0 with Committee Amendment (1)
03/25/24
  • received in House
  • to Rules (H)
03/26/24
  • posted for passage for concurrence in Senate Committee Amendment (1)
03/27/24
  • House concurred in Senate Committee Amendment (1)
  • passed 96-0
  • enrolled, signed by Speaker of the House
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/04/24
  • signed by Governor (Acts Ch. 76)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Fiscal Impact Statements Corrections Impact to House Committee Substitute 1
Local Mandate to House Committee Substitute 1
Summary Retain original provisions, except amend the definition of "person"; provide attorney's fees and costs and a statutory penalty for a violation of Section 2 of this Act; direct that the Attorney General, any Commonwealth's attorney, or county attorney may enforce Class B misdemeanor penalty under Section 3 of this Act; make technical corrections.
Index Headings Real Estate - Licensees, unlawful trade practices, service agreements, improper conduct
Real Estate - Service agreements, unlawful trade practices
Trade Practices and Retailing - Financial institution names, unlawful use
Trade Practices and Retailing - Real estate service agreements, regulation
Retroactive Legislation - Unlawful real estate service agreements
Administrative Regulations and Proceedings - Attorney General, unlawful financial trade practices enforcement
Administrative Regulations and Proceedings - Attorney General, unlawful real estate trade practices enforcement
Advertising - Financial institution names, unlawful use
Banks and Financial Institutions - Financial institution names, unlawful use
Banks and Financial Institutions - Use of certain banking terms in name, prohibition
Consumer Affairs - Financial institution names, unlawful use
Consumer Affairs - Residential real estate, unlawful trade practices
Contracts - Unlawful real estate service agreements
Local Mandate - Unlawful real estate service agreements
Corrections Impact - Unlawful real estate service agreements

Amendment House Floor Amendment 1
Sponsor M. Meredith
Summary Amend definition of "financial institution" in Section 2 of this Act; provide that a financial institution may provide consent to marketing material, solicitation, or advertising in written or electronic format; amend definition of "service provider" in Section 3 of this Act.
Index Headings Real Estate - Service agreements, unlawful trade practices
Securities - Financial institution names, unlawful use
Trade Practices and Retailing - Real estate service agreements, regulation
Banks and Financial Institutions - Financial institution names, unlawful use

Amendment Senate Committee Amendment 1
Sponsor J. Carpenter
Summary Amend definition of "financial institution" to make a technical correction.
Index Headings Banks and Financial Institutions - Financial institutions names, unlawful use, technical correction
Technical Corrections - HB 88

Last updated: 9/26/2024 1:37 PM (EDT)