{"data":{"id":"us-ky/krs-367.46981","jurisdiction":"us-ky","citation":"KRS 367.46981","heading":"Bond required for telemarketing companies -- Notification to Attorney","body":"General of promotion offering premium.\n(1) Every telemarketing company shall maintain a bond issued by a surety company\nadmitted to do business in this state. The bond shall be in the amount of fifty\nthousand dollars ($50,000) in favor of the Attorney General for the benefit of any\nperson suffering injury or loss by reason of any violation of KRS 367.46951 to\n367.46999 to be paid under the terms of any order of a court of comp etent\njurisdiction obtained by the Attorney General, as a result of any violation of KRS\n367.46951 to 367.46999. A copy of the bond shall be filed with the office.\n(2) At least ten (10) days prior to the inception of any promotion offering a premium\nwith an actual market value or advertised value of five hundred dollars ($500) or\nmore, the telemarketing company shall notify the Attorney General in writing of the\ndetails of the promotion, describing the premium and its current market value, the\nvalue at whic h it is advertised or held out to the customer, the date the premium\nshall be awarded, and the conditions under which the award shall be made. The\ntelemarketing company shall maintain an additional bond for the greater of the\ncurrent total market value or the advertised value of the premiums held out or\nadvertised to be available to a purchaser or recipient. A copy of the bond shall be\nfiled with the office. The bond, or a portion of it necessary to cover the cost of the\naward, shall be forfeited if the pre mium is not awarded to a bona fide customer\nwithin thirty (30) days of the date disclosed as the time of award or the time\notherwise required by law. The proceeds of the bond shall be paid to any person\nsuffering injury or loss by reason of any violation o f KRS 367.46951 to 367.46999\nor shall be paid pursuant to the terms of any order of a court of competent\njurisdiction obtained by the Attorney General, Commonwealth's attorney, or county\nattorney as a result of any violation of KRS 367.46951 to 367.46999. The bond\nshall be maintained until the telemarketing company files with the Attorney General\nproof that the premium was awarded.","path":["KRS Chapter 367"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54554","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:04Z","sha256":"c23fb1428435d90c72037cfbd88602c1a743b2fba6faac6e509ca7af11cf90f9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-367.46977","next":"us-ky/krs-367.46983"},"notice":"GroundRules: Original legal text. Not legal advice."}