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134.125 Interest on certificates of delinquency.

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Page 1 of 1 134.125 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 <br>calculated based on the base amount established by KRS 134.122(2)(d). Interest <br>shall be calculated in subsequent months on the outstanding balance of the base <br>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 purchaser shall become the base amount upon which simple interest <br>is initially calculated. Interest shall be calculated in subsequent months on the <br>outstanding balance of the base amount until paid. Effective: April 7, 2010 <br>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.