KRS 292.545: Interest charges by broker or dealer.

Interest charged by a broker or dealer registered under the Securities Exchange Act of

1934, as amended, or registered under KRS 292.330, as now or hereafter amended, on a

debit balance in an account for a customer, shall be exempt from the provisions of K RS

Chapter 360 if such debit balance is payable at will without penalty and is secured by

securities as defined in Uniform Commercial Code -- Article 8. Investment Securities.