Kentucky Statutes 286.3-770 – Credit plans not invalidated
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The provisions of KRS § 286.3-710 to KRS § 286.3-770 shall not invalidate or make unlawful any revolving credit plan or extensions of credit thereunder in effect or made prior to June 16,
1972.
History: Created 1972 Ky. Acts ch. 207, sec. 7.
Formerly codified as KRS § 287.770.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.
1972.
Terms Used In Kentucky Statutes 286.3-770
- Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
- Statute: A law passed by a legislature.
History: Created 1972 Ky. Acts ch. 207, sec. 7.
Formerly codified as KRS § 287.770.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.