{"data":{"id":"us-ky/krs-371.260","jurisdiction":"us-ky","citation":"KRS 371.260","heading":"Time price differential -- Prepayment.","body":"(1) Notwithstanding the provisions of any other law, a retail installment contract\npayable in substantially equal successive monthly installments beginning one (1)\nmonth from the date of the contract may provide for, and the seller or holder may\nthen charge, collect, and receive a time price differential.\n(2) Notwithstanding the provisions of any retail installment contract to the contrary, any\nbuyer may prepay in full the unpaid time balance thereof at any time before its final\ndue date and, if he does so, sha ll receive a refund credit thereon for such\nprepayment. The amount of such refund credit shall represent at least as great a\nproportion of the original time price differential, after deducting therefrom a\nmaximum of twenty dollars ($20), as (a) the sum of the monthly unpaid balances\nunder the schedule of payments in the contract beginning as of the date after such\nprepayment which is the next succeeding monthly anniversary date of the due date\nof the first installment under the contract, or, if the prepayme nt is prior to the due\ndate of the first installment under the contract, then as of the date after such\nprepayment which is the next succeeding monthly anniversary date of the date of\nthe contract, bears to (b) the sum of all the monthly unpaid balances un der the\nschedule of installment payments in the contract. Where the amount of refund credit\nis less than one dollar ($1), no refund credit need be made.","path":["KRS Chapter 371"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35244","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:07Z","sha256":"d2f8897f12693319139d1eb2ef65dec4c8a5df2b6c951e5cec51a0818f1d377e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-371.250","next":"us-ky/krs-371.270"},"notice":"GroundRules: Original legal text. Not legal advice."}