{"data":{"id":"us-ky/krs-190.090","jurisdiction":"us-ky","citation":"KRS 190.090","heading":"Definitions for KRS 190.090 to 190.140.","body":"As used in KRS 190.090 to 190.140, unless the context or subject matter otherwise\nrequires:\n(1) \"Person\" means an individual, partnership, corporation, association, and any other\ngroup however organized;\n(2) \"Retail installment sale\" means any sale for oth er than agricultural, business, or\ncommercial use evidenced by a retail installment contract wherein retail buyer\nagrees to buy and retail seller agrees to sell a motor vehicle at a time sale price\npayable in two (2) or more installments. The cash sale pri ce of the motor vehicle,\nthe amount, if any, included for insurance and other benefits, official fees and the\nfinance charge, shall together constitute the time sale price;\n(3) \"Retail installment contract\" means any agreement, entered into in this state,\nevidencing a retail installment sale of a motor vehicle, other than for the purpose of\nresale, pursuant to which title to, or a lien upon the motor vehicle is retained by the\nretail seller as security for the retail buyer's obligation. This term includes a\nmortgage, conditional sale contract or any contract for the bailment or leasing of a\nmotor vehicle by which the bailee or lessee contracts to pay as compensation for its\nuse a sum substantially equivalent to the time sale price of the motor vehicle and by\nwhich it is agreed that the bailee or lessee is bound to become, or has the option of\nbecoming for no additional consideration or for nominal additional consideration,\nthe owner of such motor vehicle;\n(4) \"Motor vehicle\" means any device in, upon, or by w hich any person or property is,\nor may be transported or drawn upon a highway. The term does not include self -\npropelled wheelchairs and invalid tricycles, tractors, power shovels, road\nmachinery, implements of husbandry and other agricultural machinery, or  other\nmachinery not designed primarily for highway transportation but which may\nincidentally transport persons or property on a highway, or devices which move\nupon or are guided by a track or travel through the air. A moped as defined in KRS\n190.010 and a  recreational vehicle shall be subject to the same requirements as a\nmotor vehicle under this section;\n(5) \"Retail seller\" or \"seller\" means a person who sells or agrees to sell a motor vehicle\nunder a retail installment contract to a retail buyer;\n(6) \"Retail buyer\" or \"buyer\" means a person who buys or agrees to buy a motor vehicle\nfrom a retail seller not for the purpose of resale and who executes a retail\ninstallment contract in connection therewith;\n(7) \"Sales finance company\" means a person engaged in  the business of creating and\nholding or purchasing or acquiring retail installment contracts from a retail seller.\nThe term includes a bank, trust company, private banker, industrial bank,\ninvestment company or national bank, if so engaged;\n(8) \"Cash sale price\" means, for purposes of KRS 190.090 to 190.140 only, and not for\npurposes of KRS 138.455 to 138.470, the price at which the seller would in good\nfaith sell to the buyer, and the buyer would in good faith buy from the seller, the\nmotor vehicle which is the subject matter of the retail installment contract, if such\nsale were a sale for cash, instead of a retail installment sale. The cash sale price may\ninclude:\n(a) Any taxes, registration fees, certificate of title fees, and, if any, license fees;\n(b) Charges for delivery, servicing, repairing, or improving the motor vehicle,\nincluding accessories and their installation;\n(c) Charges for a service contract, mechanical breakdown insurance, a\nmaintenance agreement, a vehicle protection product, and any oth er goods or\nservices related to the sale that the buyer agrees to purchase from the seller;\nand\n(d) Any processing fee;\n(9) \"Official fees\" means the fees prescribed by law for filing, recording, or otherwise\nperfecting and releasing or satisfying a retained title or a lien created by a retail\ninstallment contract;\n(10) \"Finance charge\" means that part of the time sale price by  which it exceeds the\naggregate of the cash sale price, the amount, if any, included for insurance and other\nbenefits and official fees included in the retail installment sale;\n(11) \"Maintenance agreement\" means a contract of limited duration that provides  for\nscheduled maintenance and parts related to such maintenance. A maintenance\nagreement shall not be considered a contract of, or for, insurance;\n(12) \"Service contract\" has the same meaning as in KRS 304.5-070(1)(p);\n(13) \"Truth in Lending Act\" means Ti tle I of Pub. L. No. 90 -321, codified at 15 U.S.C.\nsecs. 1601 to 1667f, as may be amended from time to time;\n(14) \"United States Rule\" means that in partial payments on a debt, each payment is\napplied first to the finance charge and any remainder reduces t he principal. Under\nthis rule, accrued but unpaid finance charges cannot be added to the principal and\ninterest cannot be compounded;\n(15) \"Vehicle protection product\" means a vehicle protection device, system, or service\nthat is installed on or applied to  a vehicle that is designed to deter the theft of the\nvehicle, and includes a written warranty that provides that if the product fails to\ndeter the theft of the vehicle, the warranty holder shall be paid specified incidental\ncosts by the warrantor as a res ult of the failure of the device, system, or service to\nperform pursuant to the terms of the warranty. Vehicle protection products include\nbut are not limited to window etch products and body part marking products. A\nvehicle protection product shall not be  considered a contract of, or for, insurance;\nand\n(16) Words in the singular include the plural and vice versa.","path":["KRS Chapter 190"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=45040","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:45Z","sha256":"e11af052391292310413f51f7612a19a43df70e828f27d1121045cb61cf909a2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-190.085","next":"us-ky/krs-190.100"},"notice":"GroundRules: Original legal text. Not legal advice."}