{"data":{"id":"us-ky/krs-15.262","jurisdiction":"us-ky","citation":"KRS 15.262","heading":"Definitions for KRS 15.262 to 15.278.","body":"As used in KRS 15.262 to 15.278, unless the context suggests otherwise:\n(1) \"Advisory committee\" means the General Regulatory Sandbox Advisory\nCommittee;\n(2) \"Applicable agency\" means a department or agency of the state that by law\nregulates a business activity and persons engaged in the business activity, including\nthe issuance of licenses or other types of authorization, which the office determines\nwould otherwise regulate a sandbox participant;\n(3) \"Applicant\" means a person that applies to participate in the regulatory sandbox;\n(4) \"Consumer\" means a person that purchases or otherwise enters into a transaction or\nagreement to receive an offering pursuant to a demonstration by a sandbox\nparticipant;\n(5) \"Demonstrate\" or \"demonstration\" means to temporaril y provide an offering in\naccordance with the provisions of the regulatory sandbox described in KRS 15.262\nto 15.278;\n(6) \"Director\" means the director of the Kentucky Office of Regulatory Relief;\n(7) \"Innovation\" means the use or incorporation of a new ide a, a new or emerging\ntechnology, or a new use of existing technology to address a problem, provide a\nbenefit, or otherwise offer a product, production method, or service;\n(8) \"Innovative offering\" means an offering that includes an innovation;\n(9) (a) \"Offering\" means a product, production method, or service.\n(b) \"Offering\" shall not include a product, production method, or service that is\nsubject to regulation under:\n1. KRS Chapter 292, the Securities Act of Kentucky; or\n2. KRS Chapter 216B, Licensure and Regulation of Health Facilities and\nServices;\n(10) \"Product\" means a commercially distributed good that is:\n(a) Tangible personal property;\n(b) The result of a production process; and\n(c) Passed through the distribution channel before consumption;\n(11) \"Production\" means the method or process of creating or obtain ing a good, which\nmay include assembling, breeding, capturing, collecting, extracting, fabricating,\nfarming, fishing, gathering, growing, harvesting, hunting, manufacturing, mining,\nprocessing, raising, or trapping a good;\n(12) \"Regulatory relief office\" means the Kentucky Office of Regulatory Relief;\n(13) \"Sandbox\" or \"regulatory sandbox\" means the General Regulatory Sandbox\nProgram, which allows a person to temporarily demonstrate an offering under a\nwaiver or suspension of one (1) or more administrative regulations;\n(14) \"Sandbox participant\" means a person whose application to participate in the\nregulatory sandbox is approved in accordance with KRS 15.272; and\n(15) \"Service\" means any commercial activity, duty, or labor performed for another\nperson.","path":["KRS Chapter 15"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54228","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:48:33Z","sha256":"4f821de02806c0ad69a8b79ca4a4dfdcd17d6973455577d6db5faab0fbd35947","source_id":"us-ky","stale":false,"prev":"us-ky/krs-15.260","next":"us-ky/krs-15.264"},"notice":"GroundRules: Original legal text. Not legal advice."}