Kentucky Statutes 205.990 – Penalties. (Effective until July 1, 2025)
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(1) Any person who violates any of the provisions of KRS § 205.170 or subsections (1)
to (3) of KRS § 205.175 shall be guilty of a Class A misdemeanor.
For details, see § 532.090
(2) Any person who violates subsection (4) of KRS § 205.175 shall be guilty of a Class D
felony.
(3) Any person who willfully violates any of the provisions of KRS § 205.310, or any rule or regulation thereunder, shall be guilty of a Class B misdemeanor. Each failure or violation shall constitute a separate offense.
(4) Any bank, savings and loan association, credit union, or other financial institution which fails to comply with the provisions of subsection (1) of KRS § 205.835 or which submits fraudulent information to the cabinet shall be guilty of a Class A misdemeanor.
(5) Any bank, savings and loan association, credit union, investment company, savings institution, trust company, insurance or annuity company, pension or profit-sharing trust company, or other financial institution failing to comply with provisions of KRS § 405.430(11) shall be subject to a penalty of five hundred dollars ($500) for each failure to comply.
(6) Any person or financial institution that fails to comply with the provisions of KRS
205.772 or any administrative regulation promulgated under KRS § 205.772, within ninety (90) days after notification by the cabinet shall, unless the failure is due to reasonable cause as defined in KRS § 131.010, be fined not less than one thousand dollars ($1,000) and no more than five thousand dollars ($5,000) for each full month of noncompliance. The fine shall begin on the first day of the month beginning after the expiration of the ninety (90) days.
Effective: June 26, 2007
History: Amended 2007 Ky. Acts ch. 68, sec. 3, effective June 26, 2007. — Amended
1998 Ky. Acts ch. 255, sec. 12, effective July 15, 1998. — Amended 1994 Ky. Acts ch. 96, sec. 19, effective July 15, 1994; and ch. 316, sec. 19, effective July 15, 1994.
– Amended 1992 Ky. Acts ch. 463, sec. 21, effective July 14, 1992. — Amended
1988 Ky. Acts ch. 411, sec. 32, effective July 15, 1988. — Amended 1986 Ky. Acts ch. 286, sec. 5, effective July 15, 1986. — Amended 1982 Ky. Acts ch. 325, sec. 5, effective July 15, 1982. — Amended 1980 Ky. Acts ch. 188, sec. 197, effective July
15, 1980. — Amended 1979 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 6, effective February 10, 1979. — Amended 1952 Ky. Acts ch. 33, sec. 13. — Amended 1950 Ky. Acts ch. 110, secs. 11 and 12. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 938i-7.
to (3) of KRS § 205.175 shall be guilty of a Class A misdemeanor.
Attorney's Note
Under the Kentucky Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class A misdemeanor | up to 12 months | up to $500 |
| Class B misdemeanor | up to 90 days | up to $250 |
Terms Used In Kentucky Statutes 205.990
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Cabinet: means the Cabinet for Health and Family Services. See Kentucky Statutes 205.010
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Month: means calendar month. See Kentucky Statutes 446.010
(2) Any person who violates subsection (4) of KRS § 205.175 shall be guilty of a Class D
felony.
(3) Any person who willfully violates any of the provisions of KRS § 205.310, or any rule or regulation thereunder, shall be guilty of a Class B misdemeanor. Each failure or violation shall constitute a separate offense.
(4) Any bank, savings and loan association, credit union, or other financial institution which fails to comply with the provisions of subsection (1) of KRS § 205.835 or which submits fraudulent information to the cabinet shall be guilty of a Class A misdemeanor.
(5) Any bank, savings and loan association, credit union, investment company, savings institution, trust company, insurance or annuity company, pension or profit-sharing trust company, or other financial institution failing to comply with provisions of KRS § 405.430(11) shall be subject to a penalty of five hundred dollars ($500) for each failure to comply.
(6) Any person or financial institution that fails to comply with the provisions of KRS
205.772 or any administrative regulation promulgated under KRS § 205.772, within ninety (90) days after notification by the cabinet shall, unless the failure is due to reasonable cause as defined in KRS § 131.010, be fined not less than one thousand dollars ($1,000) and no more than five thousand dollars ($5,000) for each full month of noncompliance. The fine shall begin on the first day of the month beginning after the expiration of the ninety (90) days.
Effective: June 26, 2007
History: Amended 2007 Ky. Acts ch. 68, sec. 3, effective June 26, 2007. — Amended
1998 Ky. Acts ch. 255, sec. 12, effective July 15, 1998. — Amended 1994 Ky. Acts ch. 96, sec. 19, effective July 15, 1994; and ch. 316, sec. 19, effective July 15, 1994.
– Amended 1992 Ky. Acts ch. 463, sec. 21, effective July 14, 1992. — Amended
1988 Ky. Acts ch. 411, sec. 32, effective July 15, 1988. — Amended 1986 Ky. Acts ch. 286, sec. 5, effective July 15, 1986. — Amended 1982 Ky. Acts ch. 325, sec. 5, effective July 15, 1982. — Amended 1980 Ky. Acts ch. 188, sec. 197, effective July
15, 1980. — Amended 1979 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 6, effective February 10, 1979. — Amended 1952 Ky. Acts ch. 33, sec. 13. — Amended 1950 Ky. Acts ch. 110, secs. 11 and 12. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 938i-7.