Kentucky Statutes 371.130 – Copy to be delivered to wage earner — Endorsement of payments made — Effect of violation or fraud
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(1) No such instrument shall be valid against the wage earner unless a true and complete copy is delivered to him at or before the time of the payment of the consideration to him.
(2) No such instrument shall be valid against any such wage earner in any case where the copy was, with or without the consent of the wage earner, taken from his possession, altered or destroyed by the assignee, vendee, pledgee or mortgagee, or his agent.
(3) The assignee, vendee, pledgee or mortgagee shall, upon demand and the payment of ten cents ($0.10), furnish the wage earner an exact copy of the instrument. Any false statement made in the copy shall make the original instrument invalid against the wage earner.
(4) The time and amount of all payments made by the wage earner under the terms of the instrument shall be endorsed on the copy and on the original, and shall be a part thereof. A failure to endorse any such payment shall make the instrument invalid.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 4758a-3.
(2) No such instrument shall be valid against any such wage earner in any case where the copy was, with or without the consent of the wage earner, taken from his possession, altered or destroyed by the assignee, vendee, pledgee or mortgagee, or his agent.
Terms Used In Kentucky Statutes 371.130
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
(3) The assignee, vendee, pledgee or mortgagee shall, upon demand and the payment of ten cents ($0.10), furnish the wage earner an exact copy of the instrument. Any false statement made in the copy shall make the original instrument invalid against the wage earner.
(4) The time and amount of all payments made by the wage earner under the terms of the instrument shall be endorsed on the copy and on the original, and shall be a part thereof. A failure to endorse any such payment shall make the instrument invalid.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 4758a-3.