Kentucky Statutes 365.470 – Additions to stock during sale prohibited
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No person carrying on or conducting 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 add, during the continuance of the sale any goods to the stock of goods included in his original application for the license or sell any such added goods. Every addition of goods to the inventory included in the original application and each sale of goods not so included in the application, shall constitute a separate offense under KRS
365.410 to 365.480 and 365.992, and shall void any license issued to conduct a sale under
KRS § 365.410 to KRS § 365.480 and 365.992.
History: Created 1966 Ky. Acts ch. 60, sec. 11.
365.410 to 365.480 and 365.992, and shall void any license issued to conduct a sale under
Terms Used In Kentucky Statutes 365.470
- 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.
- Continuance: Putting off of a hearing ot trial until a later time.
- 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.
KRS § 365.410 to KRS § 365.480 and 365.992.
History: Created 1966 Ky. Acts ch. 60, sec. 11.