AN ACT relating to retail installment contracts.

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.

Introduced: February 12, 2025

Last action: March 24, 2025

(Acts Ch. 55)

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This bill changes the rules for certain short-term retail installment contracts — specifically those with payment periods under 28 days. It allows the companies holding these contracts to begin charging late and collection fees after a shorter waiting period than was previously required. Who it may affect: Kentuckians who purchase goods or services using short-term installment payment plans.

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