CHAPTER 98 1
CHAPTER 98
( SB 219 )
AN ACT relating to debts.
Be it enacted by the General Assembly of the Commonwealth of Kentucky:
Section 1. KRS 286.9-100 is amended to read as follows:
(1) (a) Any fee charged by a licensee for cashing a check or entering into a deferred deposit transaction shall
be disclosed in writing to the bearer of the check prior to cashing the check or entering into a deferred
deposit transaction, and the fee shall be deemed a service fee and not interest.
(b) A licensee shall not charge a service fee in excess of fifteen dollars ($15) per one hundred dollars