Kentucky Statutes 292.545 – Interest charges by broker or dealer
Current as of: 2024 | Check for updates
|
Other versions
Interest charged by a broker or dealer registered under the Securities Exchange Act of
1934, as amended, or registered under KRS § 292.330, as now or hereafter amended, on a debit balance in an account for a customer, shall be exempt from the provisions of KRS Chapter 360 if such debit balance is payable at will without penalty and is secured by securities as defined in Uniform Commercial Code — Article 8. Investment Securities.
History: Created 1972 Ky. Acts ch. 265, sec. 19.
1934, as amended, or registered under KRS § 292.330, as now or hereafter amended, on a debit balance in an account for a customer, shall be exempt from the provisions of KRS Chapter 360 if such debit balance is payable at will without penalty and is secured by securities as defined in Uniform Commercial Code — Article 8. Investment Securities.
Terms Used In Kentucky Statutes 292.545
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
History: Created 1972 Ky. Acts ch. 265, sec. 19.