00RS HB621


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HB 621 (BR 1883) - R. Thomas

     AN ACT relating to financial institutions.
     Amend KRS 288.440 to increase the annual license fee for each location of a finance company from three hundred dollars ($300) to four hundred dollars ($400), increase from one hundred eighty-seven dollars ($187) to two hundred dollars ($200) if the application is filed after June 30 in any year; amend KRS 288.450 to increase the investigation fee from fifty dollars ($50) to two hundred fifty dollars ($250); amend KRS 288.460 to delete references to a corporation; amend KRS 288.533 to allow an alternative to the default charge; amend KRS 288.590 to change the annual filing date from April 15 to January 30; amend KRS 288.991 to increase fine maximum from one thousand dollars ($1,000) to five thousand dollars ($5,000), to establish that a willful violation of a rule or order issued by the commissioner is a Class A misdemeanor; amend KRS 290.055 to make housekeeping changes; amend KRS 290.525 to increase from ten thousand dollars ($10,000) to twenty-five thousand dollars ($25,000) the loan amount which a credit union may make to its officers, directors, and others without board approval; amend KRS 290.585 to increase from ten percent (10%) to twenty percent (20%) the maximum percentage that may be invested in shares or deposits of credit unions; amend KRS 291.460 to permit an industrial loan company to charge and collect from a borrower a bad check charge and an over-the-limit fee; amend KRS 291.530 to require the statement of business filing for investment companies annually by January 30; amend KRS 292.310 to make a technical correction; amend KRS 292.320 to allow the commissioner to create an exemption for certain investment advisors from a requirement that contracts be in writing; amend KRS 292.330 to reduce the fee for notice filing from two hundred dollars ($200) to one hundred dollars ($100), to require firms employing issuer agents to perform certain tasks and be subject to examination by the commissioner; amend KRS 292.470 make an opportunity for a hearing available regarding violations of securities laws; amend KRS 291.990, 287.720, and 287.730 to conform; repeal KRS 291.010, 291.012, 291.020, 291.030, 291.040, 291.050, 291.060, 291.070, 291.080, 291.090, 291.100, 291.110, 291.115, 360.210, 360.212, 360.215, 360.220, 360.225, 360.230, 360.235, 360.240, 360.245, 360.250, 360.255, 360.260, 360.265, and 360.991.


     HCA (1, R. Thomas) - Make technical corrections.

     Feb 9-introduced in House
     Feb 10-to Banking and Insurance (H)
     Feb 14-posted in committee
     Feb 17-reported favorably, 1st reading, to Calendar with committee amendment (1)
     Feb 18-2nd reading, to Rules
     Feb 25-recommitted to Appropriations and Revenue (H); taken from Committee, placed in the Orders of the Day
     Mar 1-3rd reading, passed 90-5 with committee amendment (1)
     Mar 2-received in Senate
     Mar 6-to Banking and Insurance (S)
     Mar 7-reported favorably, 1st reading, to Consent Calendar
     Mar 8-2nd reading, to Rules
     Mar 13-posted for passage in the Consent Orders of the Day for Wednesday, March 15, 2000
     Mar 15-3rd reading, passed 37-1
     Mar 16-received in House; enrolled, signed by each presiding officer, delivered to Governor
     Mar 23-signed by Governor (Acts ch. 157)

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