Section 286.4-620 - Public policy relating to loans of $15,000 or less - Loans outside state(1) Any loan in the amount of fifteen thousand dollars ($15,000) or less for which there has been charged, contracted for or received a greater rate of interest, discount or consideration, except as provided for by statute, is against the public policy of this state.(2) No such loan made outside this state shall be enforced in the state and every person participating therein in this state shall be subject to the provisions of this subtitle, but this section does not apply to loans legally made in any state, country, commonwealth, territory or district.Effective:7/15/1998
Amended 1998, Ky. Acts ch. 198, sec. 8, effective7/15/1998. -- Amended 1982 Ky. Acts ch. 53, sec. 8, effective 7/15/1982. -- Amended 1980 Ky. Acts ch. 107, sec. 4, effective 7/15/1980. -- Amended 1970 Ky. Acts ch. 48, sec. 7. --Created 1960 Ky. Acts ch. 204, sec. 22, effective 6/16/1960.