AI-assisted research summary: This section sets fines and other consequences for violating specified KRS provisions, and allows a 10-day correction period for certain non-willful failures after written buyer notice.
371.990 Penalties. (1) Any person who violates any of the provisions of KRS 371.130, or assents to any such violation shall be fined not less than fifty (50) nor more than two hundred dollars ($200) for each offense. (2) Any person who shall willfully and intentionally violate any provision of KRS 371.210 to 371.330 shall be guilty of a misdemeanor and upon conviction shall be punished by a fine not exceeding five hundred dollars ($500) or by imprisonment for not more than six (6) months, or both. (3) Any person who violates any provision of KRS 371.210 to 371.330 except as a result of an accidental or bona fide error shall be barred from the recovery of any time price differential, or any delinquency or collection charge under or in connection with the related installment contract or retail charge agreement; but the holder may nevertheless recover from the buyer an amount equal to the cash price of the goods or services and the cost to the seller or holder of any insurance included in the transaction. (4) Notwithstanding the provisions of subsections (2), (3) and (4) of this section, any failure, other than a willful and intentional failure, to comply with any provision of KRS 371.210 to 371.330 may be corrected within ten (10) days after the holder is notified thereof in writing by the buyer and, if so corrected, neither the seller nor the holder is subject to any penalty under subsections (2), (3) and (4) of this section. History: Amended 1962 Ky. Acts ch. 136, sec. 6(2) and (4). -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4758a-3.