Tag Archive: "Kentucky"
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Kentucky Enacts Notary Provisions
Kentucky has enacted several provisions pertaining to notaries. These provisions are effective as of January 1, 2020.
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Kentucky Enacts Provisions Regarding Uniform Power of Attorney Act
The Commonwealth of Kentucky enacted provisions relating to its Uniform Power of Attorney Act, these provisions are effective on July 13, 2018. Kentucky Revised Statutes Chapter 457 is established and adopts portions of the Uniform Power of Attorney Act of 2006.
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Kentucky Amends Provisions Regarding Contract Obligations and Interest Rates
The Commonwealth of Kentucky amended its provisions relating to contracts; when parties are bound to the interest rate in a contract and the interest rate parties are entitled to receive after default.
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Kentucky Adopts Provisions Relating to Mortgage Company and Broker Licensing and Registration
The Kentucky Department of Financial Institutions, Division of Non-Depository Institutions, adopted provisions relating to licensing and registration that are effective immediately. These adopted provisions explain the processes and requirements for licensure, registration, and electronic submission of filings and fees with the nationwide mortgage licensing system operated by the State Regulatory Registry, LLC.
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Kentucky Adopts Rules under the Mortgage Licensing and Registration Act and Modifies Provisions Relating to Notary Fees
The Kentucky Department of Financial Institutions implemented rules under the Mortgage Licensing and Regulation Act (MLRA) including; claims of exemption, licensing and registration, and report of condition. Kentucky Revised Statutes Chapter 286.8 governs mortgage loan companies and brokers. KRS 286.8-140(1) gives the commissioner the power to promulgate administrative rules necessary to accomplish the basic purpose of […]
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Kentucky Enacts the Uniform Voidable Transactions Act
By Margaret Wright J.D.The Kentucky Legislature has recently enacted the Uniform Voidable Transactions Act concerning creditor claims where the debtor has subsequently transferred the asset or incurred obligation under certain circumstances. The Act takes effect January 1, 2016.Under the Act, voidable transactions are outlined as follows:(1) A transfer made or obligation incurred by a debtor […]
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Kentucky Modifies Provisions Regarding Right of Redemption
by: Zachary PearlsteinThe General Assembly of the Commonwealth of Kentucky has recently amended KRS 426.530, which describes the right of redemption of real property that has been sold in pursuance of a judgment or order of a court. The revisions are effective on July 14, 2014, or 90 days after legislative adjournment. The update states […]