808 KAR 5:010. Conduct in soliciting business

Latest version.

Section 1. No certificate holder shall pay or offer to pay any borrower or any prospective borrower any monetary inducement by means of which any person will be encouraged to become a borrower. No certificate holder shall endeavor to solicit any business through any person, firm, or corporation, other than a regular salaried employee of the certificate holder, by paying or offering to pay for any such business recommended to the licensee by any such person, firm or corporation. (ILL-1; 1 Ky.R. 886; eff. 6-11-75; TAm eff. 4-21-2007.)

Notation

RELATES TO: KRS 286.7-440, 286.7-550

STATUTORY AUTHORITY: KRS 286.7-530

NECESSITY, FUNCTION, AND CONFORMITY: To promote and regulate proper conduct in the solicitation of business by industrial loan companies.

                    
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