Kentucky House Bill 285 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 26 2019 - 100% progression
Action: 2019-03-26 - signed by Governor (KY Acts ch. 120)
Text: Latest bill text (Enrolled) [PDF]

Amend KRS 286.4-410, relating to consumer loan companies, to define certain terms; amend KRS 286.4-430 to require applicant to submit specific information with an application for licensure; amend KRS 286.4-440 to increase licensing application fee, and fee per location; amend KRS 286.4-450 to establish financial requirements for applicants and licensees; amend the application approval process; establish process for an appeal of an application denial; restrict eligibility for a license for individuals who have had a license previously denied or revoked; amend KRS 286.4-460 to require disclosure of physical address, and any assumed names; require notice to the commissioner of a change in name; amend KRS 286.4-470 to add tax preparation to business that may be conducted in same location as consumer loan business and add 60 day review requirement; amend KRS 286.4-480 to establish the expiration of a license for failure to pay annual fee; repeal and reenact KRS 286.4-490 to define adverse action; establish when the commissioner may take adverse action; establish procedure following the adverse action; allow the commissioner to seek temporary or permanent relief against a person who has violated Subtitle 4 of KRS Chapter 286; amend KRS 286.4-500 to establish requirements and procedures for orders entered by the commissioner; allow the commissioner to file administrative complaints; amend KRS 286.4-533 to replace collection of credit investigation fee with loan processing fee; amend KRS 286.4-580 to make technical changes; amend KRS 286.4-600 to make changes to retention requirements; allow for a licensee to designate a custodian of records; require access to records for the commissioner; amend KRS 286.4-610 to set examination frequency of licensees and to establish examination and investigation powers of the commissioner; create a new section of Subtitle 4 of KRS Chapter 286 to allow for use of the State Regulatory Registry by the department and licensees; create a new section of Subtitle 4 of KRS Chapter 286 to require licensees maintain an agent in Kentucky; create a new section of Subtitle 4 of KRS Chapter 286 to establish requirements for change of control of a licensee; create a new section of Subtitle 4 of KRS Chapter 286 to require compliance with applicable state and federal law; create a new section of Subtitle 4 of KRS Chapter 286 to exempt certain items from required disclosure under the Kentucky Open Records Act; create a new section of Subtitle 4 of KRS Chapter 286 to establish emergency powers of the commissioner under this subtitle; create a new section of Subtitle 4 of KRS Chapter 286 to allow for a hearing for any person aggrieved by a final decision of the commissioner; establish penalties for violations of this subtitle; repeal KRS 286.4-630.

AN ACT relating to consumer loan companies.

Rep. Michael Meredith [R]

2019-03-14 - House - House: Third Reading RCS# 333 (Y: 96 N: 2 NV: 0 Abs: 2) [PASS]
2019-03-13 - Senate - Senate: Third Reading W/SCS 1 RSN# 960 (Y: 37 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-22 - House - House: Third Reading RCS# 113 (Y: 95 N: 0 NV: 0 Abs: 5) [PASS]

Date	Chamber	Action
2019-03-26	House	signed by Governor (KY Acts ch. 120)
2019-03-14	House	delivered to Governor
2019-03-14	House	enrolled, signed by President of the Senate
2019-03-14	House	enrolled, signed by Speaker of the House
2019-03-14	House	passed 96-2
2019-03-14	House	House concurred in Senate Committee Substitute (1)
2019-03-13	House	posted for passage for concurrence in Senate Committee Substitute (1)
2019-03-13	House	to Rules (H)
2019-03-13	House	received in House
2019-03-13	Senate	3rd reading, passed 37-0 with Committee Substitute (1)
2019-03-12	Senate	passed over and retained in the Orders of the Day
2019-03-07	Senate	passed over and retained in the Orders of the Day
2019-03-07	Senate	posted for passage in the Regular Orders of the Day for Thursday, March 7, 2019
2019-03-06	Senate	2nd reading, to Rules
2019-03-05	Senate	reported favorably, 1st reading, to Calendar with Committee Substitute (1)
2019-02-27	Senate	to Banking & Insurance (S)
2019-02-25	Senate	received in Senate
2019-02-22	House	3rd reading, passed 95-0 with Committee Substitute (1)
2019-02-21	House	posted for passage in the Consent Orders of the Day for Friday, February 22, 2019
2019-02-21	House	2nd reading, to Rules
2019-02-20	House	reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1)
2019-02-15	House	posted in committee
2019-02-11	House	to Banking & Insurance (H)
2019-02-08	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/19RS/hb285.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/19RS/hb285/orig_bill.pdf
Text	https://apps.legislature.ky.gov/recorddocuments/bill/19RS/hb285/bill.pdf
Amendment	https://apps.legislature.ky.gov/recorddocuments/bill/19RS/HB285/HCS1.pdf
Roll Call	https://apps.legislature.ky.gov/record/19RS/hb285/vote_history.pdf