In addition to the charges provided in KRS 286.3-740, a revolving credit plan may provide for the collection of fees not to exceed twenty dollars ($20) annually, and in addition, the following enumerated fees, charges and costs:
(1) Delinquency charges not to exceed five dollars ($5) each month if payments required by the plan are not made when due;(2) All fees and closing costs incurred in connection with the taking of a mortgage on real estate if bona fide and not retained by the bank; and(3) Reasonable attorney's fees and court costs provided that the account is referred to an attorney not a salaried employee of the bank or holder for collection.Effective:7/13/1984
Amended 1984 Ky. Acts ch. 349, sec. 4, effective7/13/1984. -- Created 1972 Ky. Acts ch. 207, sec. 5.