KY HB489 | 2022 | Regular Session
Status
Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on February 11 2022 - 25% progression, died in committee
Action: 2022-03-29 - recommitted to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 11 2022 - 25% progression, died in committee
Action: 2022-03-29 - recommitted to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Establish Subtitle 12 of KRS Chapter 286 and create sections thereof to define terms; prohibit engaging in the business of nonrecourse consumer legal funding transactions without a license; establish licensing requirements; provide that nonrecourse consumer legal funding transactions are not loans and exempt from statute relating to interest; establish requirements for nonrecourse consumer legal funding transaction contracts; prohibit certain actions by nonrecourse consumer legal funding companies; provide for attorney communications and responsibilities; establish penalties; provide that the new subtitle on nonrecourse consumer legal funding shall not restrict the powers or duties of the Attorney General; amend KRS 286.4-410, 360.010, and 372.060 to conform.
Title
AN ACT relating to nonrecourse consumer legal funding.
Sponsors
Rep. John Blanton [R] | Rep. Kimberly Banta [R] | Rep. Myron Dossett [R] | Rep. Patrick Flannery [R] |
Rep. Bobby McCool [R] | Rep. Sal Santoro [R] |
History
Date | Chamber | Action |
---|---|---|
2022-03-29 | House | recommitted to Appropriations & Revenue (H) |
2022-03-17 | House | floor amendments (1) and (2) filed |
2022-03-10 | House | 2nd reading, to Rules |
2022-03-09 | House | reported favorably, 1st reading, to Calendar |
2022-03-08 | House | to Judiciary (H) |
2022-02-11 | House | to Committee on Committees (H) |
2022-02-11 | House | introduced in House |
Subjects
Administrative Regulations and Proceedings
Attorney General
Attorneys
Banks and Financial Institutions
Civil Actions
Claims
Contracts
Fees
Interest and Usury
Licensing
State Agencies
Attorney General
Attorneys
Banks and Financial Institutions
Civil Actions
Claims
Contracts
Fees
Interest and Usury
Licensing
State Agencies