KY SB 118
died on adjournmentAN ACT relating to credit personal property insurance.
Kentucky · 2026 Regular Session · upper
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Quick answers
Did KY SB 118 pass?
No. KY SB 118 died when the 2026 Regular Session adjourned without final action on it. Bills that die this way are sometimes reintroduced in a later session. Latest recorded action (2026-03-12): recommitted to Banking & Insurance (H)
What is KY SB 118 about?
Create new sections of Subtitle 19 of KRS Chapter 304 to establish regulatory requirements relating to credit personal property insurance; define terms; establish exemptions from the regulatory requirements; establish limits on the amount and term of credit personal property insurance sold in conjunction with a closed-end credit transaction; require credit personal property insurance to cover a substantial risk of loss of, or damage to, the collateral pledged or secured in the credit transaction; prohibit an insurer from requiring bundling of other credit insurance coverages and from using gross debt in determining premiums; require a creditor to deliver, or cause to be delivered, a policy, certificate, memorandum or other disclosure disclosing the costs and coverage within 30 days after the date of the loan; require policies, certificates, plans, contracts, applications, enrollment forms, and schedules of premiums rates to be filed with the commissioner of the Department of Insurance; establish requirements for the refund of unearned premiums upon cancellation prior to the scheduled maturity date; establish requirements relating to the reporting and payment of claims; provide that a person aggrieved by a decision of the commissioner may request an administrative hearing; provide that a violation by an insurer is subject to the penalty provisions of Subtitle 99 of KRS Chapter 304; amend KRS 304.19-010, 304.19-020, 304.19-080, 304.19-090, and 304.19-130 to conform; direct that certain sections apply to contracts issued or renewed on or after the effective date of the Act.
Who sponsors KY SB 118?
B. Storm is the primary sponsor of KY SB 118.
Description
Create new sections of Subtitle 19 of KRS Chapter 304 to establish regulatory requirements relating to credit personal property insurance; define terms; establish exemptions from the regulatory requirements; establish limits on the amount and term of credit personal property insurance sold in conjunction with a closed-end credit transaction; require credit personal property insurance to cover a substantial risk of loss of, or damage to, the collateral pledged or secured in the credit transaction; prohibit an insurer from requiring bundling of other credit insurance coverages and from using gross debt in determining premiums; require a creditor to deliver, or cause to be delivered, a policy, certificate, memorandum or other disclosure disclosing the costs and coverage within 30 days after the date of the loan; require policies, certificates, plans, contracts, applications, enrollment forms, and schedules of premiums rates to be filed with the commissioner of the Department of Insurance; establish requirements for the refund of unearned premiums upon cancellation prior to the scheduled maturity date; establish requirements relating to the reporting and payment of claims; provide that a person aggrieved by a decision of the commissioner may request an administrative hearing; provide that a violation by an insurer is subject to the penalty provisions of Subtitle 99 of KRS Chapter 304; amend KRS 304.19-010, 304.19-020, 304.19-080, 304.19-090, and 304.19-130 to conform; direct that certain sections apply to contracts issued or renewed on or after the effective date of the Act.
- Introduced
- 2026-01-23
- Latest action
- 2026-03-12 — recommitted to Banking & Insurance (H)
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- B. Stormprimary
Committees
Not provided by source.
Action timeline
Newest first
2026-03-12
recommitted to Banking & Insurance (H)
2026-03-05
2nd reading, to Rules
reading-2
2026-03-04
reported favorably, 1st reading, to Calendar
committee-passage
2026-03-02
to Banking & Insurance (H)
referral-committee
2026-02-13
to Committee on Committees (H)
referral-committee
2026-02-13
received in House
2026-02-12
3rd reading, passed 38-0 with Committee Substitute (1)
passage,reading-3
2026-02-11
posted for passage in the Regular Orders of the Day for Thursday, February 12 2026
2026-02-11
2nd reading, to Rules
reading-2
2026-02-10
reported favorably, 1st reading, to Calendar with Committee Substitute (1)
committee-passage
2026-02-06
to Banking & Insurance (S)
referral-committee
2026-01-23
to Committee on Committees (S)
referral-committee
2026-01-23
introduced in Senate
introduction
Versions
Documents
Votes
PASS SB 118 w/ SCS 1
2026-02-12 · pass · 38-0
Member-level votes (38)
- Berg: yes
- Girdler: yes
- Neal: yes
- Storm: yes
- Boswell: yes
- Givens: yes
- Nemes: yes
- Thomas: yes
- Carpenter: yes
- Herron: yes
- Nunn: yes
- Tichenor: yes
- Carroll: yes
- Higdon: yes
- Raque Adams: yes
- Webb: yes
- ChambersArmstrong: yes
- Howell: yes
- Rawlings: yes
- West: yes
- Clemons: yes
- Madon: yes
- Reed: yes
- Wheeler: yes
- Deneen: yes
- Mays Bledsoe: yes
- Richardson: yes
- Williams: yes
- Douglas: yes
- McDaniel: yes
- Smith: yes
- Wilson: yes
- Elkins: yes
- Meredith: yes
- Stivers: yes
- Wise: yes
- Funke Frommeyer: yes
- Mills: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_api_sync, retrieved 2026-08-21T21:05:44.493618Z
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