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190.130 Extension, deferral or renewal -- When -- Service fee -- Additional charge.

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190.130 Extension, deferral or renewal -- When -- Service fee -- Additional charge. The holder of a retail installment contract may, upon agreement with the retail buyer, <br>extend the scheduled due date, defer the scheduled payment of all or part of any <br>installment payment or payments, or renew the balance of such contract. In any such case <br>the holder may restate the amount of the installments and the time schedule therefor, and <br>collect as a refinance charge for such extension, deferment or renewal, a flat service fee <br>not to exceed five dollars (&#36;5) and an additional finance charge computed at the same rate <br>and by the same method as originally set out in the retail installment contract computed <br>from the date of such extension, deferment or renewal. Effective: July 13, 1984 <br>History: Amended 1984 Ky. Acts ch. 391, sec. 5, effective July 13, 1984. -- Created 1956 Ky. Acts ch. 105, sec. 5, effective July 1, 1956.