Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.7-500.Delinquency charges

(1) Delinquency charges may be made not to exceed five cents ($0.05) for each dollar ($1) of each installment more than ten (10) days in arrears, and only one (1) delinquency charge shall be made on any one (1) installment. No delinquency charge shall exceed five dollars ($5) on any one (1) installment. A certificate holder and borrower may agree in writing to a deferral of all or part of one (1) or more unpaid installments, and the certificate holder may make and collect a charge not exceeding a rate of seven dollars ($7) per one hundred dollars ($100) per annum. In addition to such charges attorneys' fees not exceeding fifteen percent (15%) of the unpaid balance and court costs may be collected, provided that the note is referred to an attorney not a salaried employee of the holder for collection.

(2) The certificate holder shall permit the borrower to repay his loan in whole or in part at any time. If a loan is paid in full prior to maturity, the certificate holder shall make a rebate at a rate not less than in accordance with the Rule of 78s if the maximum financing charge permitted under KRS 286.7-410 to 286.7-600 has been taken. If a lesser charge has been taken, the rebate shall be at not less than a proportional rate. Provided, however, the certificate holder shall be permitted in computing rebates to retain a minimum charge of ten dollars ($10) to cover its acquisition costs and where the amount of credit for anticipation of repayment is less than one dollar ($1), no rebate need be made.