{"data":{"id":"us-ky/krs-190.120","jurisdiction":"us-ky","citation":"KRS 190.120","heading":"Payment in full before maturity.","body":"(1) If the finance charge applicable to the retail installment contract has been\ndetermined by a precomputed method, the retail buyer may pay in full at any time\nbefore the stated maturity date and upon such prepayment in full the retail buyer\nshall receive a refund of a portion of the finance charge not less than the refund\ncomputed in accordance with the Rule of 78's. An acquisition cost of twenty -five\ndollars ($25) shall be deducted from the finance charge before computation of the\nrefund. Where the refund i s less than one dollar ($1) no refund need be made and\nacceleration of the balance by the seller, caused by the default of the buyer or\notherwise, shall not affect the date of computation. Any balance remaining unpaid\nas of the stated maturity date shall t hen be subject to accumulation of additional\nfinance charges at the rate specified in the contract.\n(2) If the finance charge applicable to the retail installment contract has or will be\ndetermined by a simple interest method, the retail buyer may pay in f ull at any time\nbefore the stated maturity date without penalty, except that the holder may collect\nand receive a minimum finance charge of twenty-five dollars ($25) in any event.","path":["KRS Chapter 190"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40509","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:45Z","sha256":"67b044f663805bb3fe50d4b5c75b277cf80bf6358c9085adf138f7821bf8171a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-190.110","next":"us-ky/krs-190.124"},"notice":"GroundRules: Original legal text. Not legal advice."}