| Last Action | 02/06/26: to Banking & Insurance (S) |
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| Title | AN ACT relating to vehicle financial protection products. |
| Bill Documents | Introduced |
| Bill Request Number | 1901 |
| Sponsor | J. Howell |
| Summary of Original Version | Create new sections of KRS Chapter 367 to establish regulatory requirements for vehicle financial protection products; establish the purpose of the requirements; define terms; provide that vehicle financial protection products issued before, on, or after the effective date of the Act shall not be considered insurance; establish exemptions from the regulatory requirements; provide that amounts charged or financed for vehicle financial protection products are authorized charges to be stated separately and shall not be considered a finance charge or interest; prohibit conditioning the extension of credit, terms of a loan, or terms of a related vehicle sale or lease from being conditioned on the consumer's payment for a vehicle financial protection product; establish requirements for debt waivers; establish requirements for vehicle value protection agreements; amend KRS 190.100 and create a new section of Subtitle 4 of KRS Chapter 286 to require retail installment contracts and consumer loan companies to comply with the regulatory requirements for vehicle financial protection products; amend KRS 304.1-120 to conform; direct that the Act applies to vehicle financial protection products that become effective on or after January 1, 2027; EFFECTIVE January 1, 2027. |
| Index Headings of Original Version |
Attorney General - Vehicle financial protection products, regulatory requirements Boats And Boating - Vehicle financial protection products, regulatory requirements Consumer Protection - Vehicle financial protection products, regulatory requirements Contracts - Vehicle financial protection products, regulatory requirements Effective Dates, Delayed - Vehicle financial protection products, regulatory requirements, January 1, 2027 Insurance - Vehicle financial protection products, regulatory requirements Loans, Credit, Interest, And Usury - Finance agreement, vehicle financial protection products, regulatory requirements Motor Vehicles - Vehicle financial protection products, regulatory requirements Transportation - Vehicle financial protection products, regulatory requirements |
| 02/03/26 |
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| 02/06/26 |
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Last updated: 2/6/2026 4:20 PM (EST)