KRS 304.19-200: Definitions for KRS 304.19-200 to 304.19-215.

As used in KRS 304.19-200 to 304.19-215:

(1) "Collateral" means any personal property, including but not limited to a motor

vehicle, pledged as security or in which a purchase money security interest is

retained, for the satisfaction of a debt;

(2) "Credit personal property insurance" means a policy, endorsement, rider, binder,

certificate, or other instrument or evidence of insurance that:

(a) Is offered in connection with a credit transaction;

(b) Covers perils to the personal property purchased through, or used as collateral

for, a credit transaction; and

(c) Concerns a creditor's interest in the purchased personal property or pledged

collateral, in whole or in part;

(3) "Credit transaction":

(a) Means any transaction in which the:

1. Repayment of money loaned, or a credit commitment, is made; or

2. Payment of goods, services, property, rights, or privileges sold or leased,

is to be made at a future date or dates; and

(b) Includes a retail installment transaction;

(4) "Creditor" means:

(a) A lender of money;

(b) A vendor or lessor of goods, services, property, rights, or privileges for which

payment is arranged through a credit transaction;

(c) Any successor to the right, title, or interest of a lender, vendor, or lessor;

(d) Any director, of ficer, or employee of any person referenced under paragraph

(a), (b), or (c) of this subsection;

(e) Any affiliate, association, or subsidiary of any person referenced under

paragraph (a), (b), or (c) of this subsection; or

(f) Any person associated in any way with a person referenced under paragraph

(a), (b), or (c) of this subsection;

(5) "Debtor" means:

(a) Any or all borrowers of money; or

(b) A purchaser or lessee of goods, services, property, rights, or privileges for

which payment is arranged through a credit transaction; and

(6) "Finance charge":

(a) Means any charge payable, directly or indirectly, as an incident to, or a

condition of, the extension of credit, including but not limited to:

1. Interest;

2. Time price differentials;

3. Amounts payable under a discount system of additional charges;

4. Service, transaction, or carrying charges;

5. Loan fees;

6. Points or similar charges;

7. Appraisal fees; or

8. Charges incurred for investigating the credit worthiness of the

consumer; and

(b) Does not include charges as a result of:

1. Default;

2. Taxes;

3. License fees;

4. Delinquency charges; or

5. Filing fees.