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SB 145 Kentucky Senate · 2025 Regular Session

AN ACT relating to retail installment contracts.

Summary
Amend KRS 190.100 to authorize holders of retail installment contracts that utilize installment periods that are under 28 days to have a shorter waiting period prior to charging a delinquency and collection fee.
Bill status signed all 5 stages cleared
Introduction
Feb 2025
Committee Review
Mar 2025
Senate Passage
Mar 2025
House Passage
Mar 2025
Signed into Law
Mar 2025
Introduced Feb 12, 2025 Signed Mar 24, 2025
Maddy AI version diff · 1 comparison

What changed between versions

Introduced → Current/Final · 4 edits
MODERATE
This bill amends Kentucky's retail installment contract laws to update formatting requirements, clarify delinquency collection rules, and modify insurance disclosure provisions. The changes primarily address technical formatting standards and clarify how insurance premiums and delinquency charges should be handled in vehicle financing contracts.
Scope change
No change to the bill's overall scope or applicability; amendments focus on existing KRS 190.100 provisions
REQUIREMENT

Updated formatting requirements for retail installment contracts to specify indentation standards for contract clauses

Clarified delinquency collection charge timelines by adjusting the language for installment periods of 28 days or longer

Modified insurance disclosure requirements to clarify when insurance policies must be sent to buyers and how unearned premiums should be refunded

Updated page numbering and document metadata to reflect the revised bill version

Floor votes · Senate Feb 27, 2025

How they voted

38–0
Passed · 5 other
Total votes 43
Feb 27, 2025
D Democratic6
5 Yea 1
83% Yea
R Republican37
33 Yea 4
89% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
22
Key actions
7
Committee
6
Mar 24, 2025
Signed into law
signed by Governor (Acts Ch. 55)
upper
Mar 14, 2025
Lower · Passed
enrolled, signed by Speaker of the House
lower
Mar 14, 2025
Upper · Passed
enrolled, signed by President of the Senate
upper
Mar 14, 2025
Upper · Passed
3rd reading, passed 79-6
upper
Mar 12, 2025
Upper · Passed
reported favorably, 1st reading, to Calendar
upper
Mar 7, 2025
Committee
to Banking & Insurance (H)
lower
Feb 28, 2025
Committee
to Committee on Committees (H)
lower
Feb 27, 2025
Upper · Passed
3rd reading, passed 34-0 with Committee Substitute (1)
upper
Feb 25, 2025
Upper · Passed
reported favorably, 1st reading, to Calendar with Committee Substitute (1)
upper
Feb 14, 2025
Committee
to Transportation (S)
upper
Feb 12, 2025
Committee
to Committee on Committees (S)
upper
Feb 12, 2025
Introduced
introduced in Senate
upper
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.