134.125 Interest on certificates of delinquency. (1) A certificate of delinquency or personal property certificate of delinquency shall bear simple interest at twelve percent (12%) per annum. Interest shall initially be calculated based on the base amount established by KRS 134.122(2)(d). Interest shall be c alculated in subsequent months on the outstanding balance of the base amount until paid. A fraction of a month shall be counted as an entire month. (2) If a certificate of delinquency is paid by a third -party purchaser, the amount paid by the third -party p urchaser shall become the base amount upon which simple interest is initially calculated. Interest shall be calculated in subsequent months on the outstanding balance of the base amount until paid. Effective: April 7, 2010 History: Amended 2010 Ky. Acts ch . 75, sec. 5, effective April 7, 2010. -- Created 2009 Ky. Acts ch. 10, sec. 7, effective January 1, 2010.
Kentucky Legal Code