AN ACT relating to total net income limits on loans secured by a mortgage.

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Acts Chapter 57 — · 383 words Open full page ↗

( SB 157 )

AN ACT relating to total net income limits on loans secured by a mortgage.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

Section 1. KRS 286.8-125 is amended to read as follows:

(1) (a) Except as provided in paragraph (b) of this subsection, it shall be unlawful for any licensee or person

holding a claim of exemption to originate a loan secured by a mortgage on residential real property in

Kentucky if the total net income generated by the licensee or person exceeds the greater of the

following:

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