Kentucky SB158 regulates vehicle financial protection products, defining them and setting rules for their sale and operation.

Kentucky SB158 establishes a regulatory framework for vehicle financial protection products, which include debt waivers and vehicle value protection agreements. These products are not considered insurance and must comply with specific disclosure and operational requirements. Providers must maintain financial security, and the Attorney General has enforcement powers. The act applies to products effective on or after January 1, 2027.

Kentucky SB158 regulates vehicle financial protection products, defining them and setting rules for their sale and operation.

Kentucky SB158 establishes a regulatory framework for vehicle financial protection products, which include debt waivers and vehicle value protection agreements. These products are not considered insurance and must comply with specific disclosure and operational requirements. Providers must maintain financial security, and the Attorney General has enforcement powers. The act applies to products effective on or after January 1, 2027.