KY HB316 | 2014 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 8 2014 - 100% progression
Action: 2014-04-08 - signed by Governor (Acts, ch. 58)
Text: Latest bill text (Draft #2) [MS Word]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 8 2014 - 100% progression
Action: 2014-04-08 - signed by Governor (Acts, ch. 58)
Text: Latest bill text (Draft #2) [MS Word]
Summary
Amend KRS 286.4-560 to establish the requirements for a consumer loan company to offer borrowers insurance on tangible personal property, except household goods, as security on a loan exceeding $300 if sold by a licensed insurance agent or by the consumer loan licensee if permissible under Kentucky law, and if the insurance may be excluded from the amount of the finance charge if the insurer waives its right to subrogation against the borrower; require a disclosure to the borrower of the coverages and costs of the insurance.
Title
AN ACT relating to insurance for tangible personal property to secure a loan by a consumer loan company.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2014-04-08 | House | signed by Governor (Acts, ch. 58) |
| 2014-03-27 | House | delivered to Governor |
| 2014-03-27 | House | enrolled, signed by each presiding officer |
| 2014-03-27 | House | received in House |
| 2014-03-26 | Senate | 3rd reading, passed 38-0 |
| 2014-03-26 | Senate | posted for passage in the Consent Orders of the Day for Wednesday, March 26, 2014 |
| 2014-03-25 | Senate | reported favorably, to Rules as a Consent Bill |
| 2014-03-24 | Senate | returned to Banking & Insurance (S) |
| 2014-03-24 | Senate | 2nd reading |
| 2014-03-24 | Senate | taken from Banking & Insurance (S) |
| 2014-03-21 | Senate | returned to Banking & Insurance (S) |
| 2014-03-21 | Senate | 1st reading |
| 2014-03-21 | Senate | taken from Banking & Insurance (S) |
| 2014-02-21 | Senate | to Banking & Insurance (S) |
| 2014-02-19 | Senate | received in Senate |
| 2014-02-18 | House | 3rd reading, passed 96-0 with Committee Substitute |
| 2014-02-13 | House | posted for passage in the Consent Orders of the Day for Tuesday, February 18, 2014 |
| 2014-02-13 | House | 2nd reading, to Rules |
| 2014-02-12 | House | reported favorably, 1st reading, to Consent Calendar with Committee Substitute |
| 2014-02-06 | House | posted in committee |
| 2014-02-04 | House | to Banking & Insurance (H) |
| 2014-02-03 | House | introduced in House |
