KRS 226.080: Maximum interest -- Service charges.

Any pawnbroker, as defined in KRS 226.010, may, in loaning money on deposit of

personal property, charge, contract for or receive interest at a rate not exceeding two

percent (2%) per month on the unpaid principal balance of the loan, and may charge,

contract for and receive a reasonable fee, not to exceed one -fifth (1/5) of the value of the

loan per month, for investigating the title, storing and insuring the property, closing the

loan, making daily reports to local law enforcement officers and for other e xpenses,

losses and incidental costs associated with servicing such loans. It is further provided that

such fee when made and collected shall not be deemed interest for any purpose of law.

No pawnbroker shall directly or indirectly charge, receive or contr act for any interest or

consideration greater than that allowed by this section.