Summary of Original Version

Amend KRS 190.100 to authorize holders of retail installment contracts that utilize installment periods that are under 28 days to have a shorter waiting period prior to charging a delinquency and collection fee.

Summary of Amendment: Senate Committee Substitute 1

Summary Retain original provisions; amend KRS 371.270 to increase flat rate penalty for delinquency from $10 to $15 and eliminate further requirements.

Statutes affected:
Introduced: 190.100
Senate Committee Substitute 1: 190.100, 371.270
Current: 190.100, 371.270