808 KAR 6:125. Monetary inducements prohibited

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Section 1. No licensee 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 licensee shall endeavor to solicit any business through any person, firm, or corporation, other than a regular salaried employee of the licensee, by paying or offering to pay such business recommended to the licensee by any such person, firm or corporation. (SLL-25; 1 Ky.R. 891; eff. 6-1-75; TAm eff. 5-2-2007.)

Notation

RELATES TO: KRS Chapter 286.4

STATUTORY AUTHORITY: KRS 286.4-610

NECESSITY, FUNCTION, AND CONFORMITY: To promote the proper conduct by licensees of the consumer loan business.

                    
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