Kentucky Administrative Regulations
Title 808 - PUBLIC PROTECTION CABINET - DEPARTMENT OF FINANCIAL INSTITUTIONS
Chapter 6 - Consumer Loans
Section 808 KAR 6:095 - Mandatory availability for repayment
Universal Citation: 808 KY Admin Regs Service 6:095
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 286.4-460, 286.4-490
NECESSITY, FUNCTION, AND CONFORMITY: KRS 286.4-610(1) authorizes the commissioner to promulgate administrative regulations to enforce the provisions of KRS Chapter 286.4. This administrative regulation promotes the proper conduct of business pursuant to KRS Chapter 286.4 by requiring minimum time frames during which the general public shall have access to consumer loan company licensee places of business.
Section 1.
(1) Every licensee shall
maintain a place of business to which the general public shall have free access
and where all obligations entered into shall be payable.
(2) For the purposes of doing business with
the general public, the acceptance of payments from borrowers, and to permit
the commissioner or any person designated by the commissioner to examine the
books, accounts, records and files of licensees and to enter complaints, each
licensed office shall be open not less than four (4) consecutive hours between
8 a.m. and 6 p.m. on any four (4) days of each week, except legal holidays
generally observed in the community in which the licensed office is
located.
STATUTORY AUTHORITY: KRS 286.4-610
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