No person proposing to conduct an insurance, bankruptcy, mortgage foreclosure, insolvent’s, assignee’s, executor‘s, administrator’s, receiver’s, trustee‘s, removal sale, going out of business sale, or fire sale under a license as provided in KRS § 365.410 to KRS § 365.480 and 365.992 shall order any goods for the purpose of selling and disposing of the same at the sale. Any abnormal purchase and additions to the stock of goods within ninety (90) days prior to the filing of the application for a license to conduct the sale shall be presumptive evidence that the purchases and additions to stock were made in contemplation of the sale and for the purpose of selling the same at the sale.
Effective: July 15, 1994
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Terms Used In Kentucky Statutes 365.465

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Trustee: A person or institution holding and administering property in trust.

History: Amended 1994 Ky. Acts ch. 305, sec. 2, effective July 15, 1994. — Created
1966 Ky. Acts ch. 60, sec. 10.

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