Section 286.4-470 - Limitation on locations at which business may be conducted - Construction of subtitle regarding types of loans(1) No licensee shall conduct the business authorized by this subtitle in any office, room, or place of business in which any other business, except purchase of retail and installment sales contracts, tax preparation, and motor club memberships, is solicited or engaged in, or in association or conjunction therewith, except upon a written authorization from the commissioner. The commissioner shall have sixty (60) days to either approve or deny the written authorization request.(2) Nothing in this subtitle shall be construed to limit the loans of any licensee to residents of the community in which the licensed place of business is situated, nor to prohibit the making and collecting of loans by mail.(3) Nothing in this subtitle shall be construed to limit the ability of any licensee to make a loan or loans in the principal amount greater than fifteen thousand dollars ($15,000) at the licensed location at the same rates as provided in KRS 360.010.Amended by 2019 Ky. Acts ch. 120,§ 6, eff. 6/26/2019.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 661, effective7/15/2010. -- Amended 1998, Ky. Acts ch. 198, sec. 3, effective 7/15/1998. -- Created 1960 Ky. Acts ch. 204, sec. 7.