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15 chapters · 1,472 sections in this title.
KRS § 360.010 Legal interest rate -- Agreement for higher rate -- Contract or obligation -- Interest after default -- Minimum charge for negotiated bank loan
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Interest after default -- Minimum charge for negotiated bank loan. (1) Except as provided in KRS 360.040, the legal rate of interest is eight percent (8%) per annum, but any party or parties may agree, in writing, for the payment of interest in excess of that rate as follows: (a)…
KRS § 360.020 Civil penalty for charging excessive interest -- Partial payment applied first to interest
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first to interest. (1) The taking, receiving, reserving, or charging a rate of interest greater than is allowed by KRS 360.010, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has b…
KRS § 360.022 Other laws not affected by KRS 360.010, 360.020, or 360.990
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Nothing contained in KRS 360.010, 360.020, or 360.990 shall be construed to amend, repeal, or abrogate any other law of this state pertaining to any particular types of transactions for which exemptions, pleading of defenses is denied, or the maximum rate of interest is specifica…
KRS § 360.025 Excess rate of interest prohibited as defense of corporation
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(1) No corporation shall hereafter plead or set up the taking of more than the legal rate of interest, as a defense to any action brought against it to recover damages on, or enforce payment of, or other remedy on, any mortgage, bond, note or other obligation, executed or assumed…