{"data":{"id":"us-ky/krs-365.815","jurisdiction":"us-ky","citation":"KRS 365.815","heading":"Title to repurchased goods -- Reserve accounts for recourse contracts.","body":"Upon payment of the repurchase amount to the retailer, the title and right of possession to\nthe repurchased inventory shall transfer to the supplier. Annually, at the end of each\ncalendar year after the termination of a retail agreement contract, the retai ler's reserve\naccounts for recourse contracts shall not be debited by a supplier or lender for any\ndeficiency unless the retailer has been given at least seven (7) business days notice by\nregistered United States mail, return receipt requested, of any prop osed sale of the\nequipment financed and has been given an opportunity to purchase the equipment. The\nformer retailer shall be given quarterly status reports on any remaining outstanding\nrecourse contracts. As the recourse contracts are reduced, any reserve  account funds shall\nbe returned to the retailer in direct proportion to the liabilities outstanding.","path":["KRS Chapter 365"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34852","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:02Z","sha256":"80e20ba8e019f8d555b2da009d71b29a53921b4bc0763daab1d1ae75454fcb14","source_id":"us-ky","stale":false,"prev":"us-ky/krs-365.810","next":"us-ky/krs-365.820"},"notice":"GroundRules: Original legal text. Not legal advice."}