25RS HB 680

House Bill 680

Actions

Last Action	02/18/25: to Committee on Committees (H)
Title	AN ACT relating to commercial financing.
Bill Documents	Introduced
Bill Request Number	942
Sponsor	M. Pollock
Summary of Original Version	Establish Subtitle 13 of KRS Chapter 286, and create new sections thereof, to define terms; establish exemptions; require certain commercial financing providers to register with the commissioner of the Department of Financial Institutions to engage in business; establish commercial financing trade practice standards and disclosure requirements for commercial financing transactions; establish penalties and exclusive enforcement by the financial institutions commissioner; provide that Subtitle 13 of KRS Chapter 286 may be cited as the Kentucky Commercial Financing Disclosure Law; direct that the provisions apply to contracts entered on or after January 1, 2026; EFFECTIVE January 1, 2026.
Index Headings of Original Version	Effective Dates, Delayed - Commercial financing, regulation, January 1, 2026 Loans and Credit - Commercial financing, regulation State Agencies - Department of Financial Institutions, commercial financing regulation Trade Practices and Retailing - Commercial financing, regulation Administrative Regulations and Proceedings - Department of Financial Institutions, commercial financing provider registration form Banks and Financial Institutions - Commercial financing providers, regulation Commerce - Commercial financing, regulation Short Titles and Popular Names - Kentucky Commercial Financing Disclosure Law