KRS 365.815: Title to repurchased goods -- Reserve accounts for recourse contracts.

Upon payment of the repurchase amount to the retailer, the title and right of possession to

the repurchased inventory shall transfer to the supplier. Annually, at the end of each

calendar year after the termination of a retail agreement contract, the retai ler's reserve

accounts for recourse contracts shall not be debited by a supplier or lender for any

deficiency unless the retailer has been given at least seven (7) business days notice by

registered United States mail, return receipt requested, of any prop osed sale of the

equipment financed and has been given an opportunity to purchase the equipment. The

former retailer shall be given quarterly status reports on any remaining outstanding

recourse contracts. As the recourse contracts are reduced, any reserve account funds shall

be returned to the retailer in direct proportion to the liabilities outstanding.