Loading chat...
KY HB736
Bill
Status
Introduced
2/25/2026
Primary Sponsor
Nicolas Wilson
Click for details
AI Summary
- Caps early termination fees for merchant processing agreements at the greater of $500 or the unreimbursed cost of equipment provided under the agreement
- Prohibits credit card processors from charging fees or penalties for declining to renew or enter into subsequent agreements
- Requires processors to disclose termination fees, expiration dates, renewal dates, and customer service contact information in bold 12-point font on the signature page, with business signatory initials required next to this information
- Exempts agreements that allow termination without fees, and businesses with more than $2,500,000 in annual card transactions and more than 30 employees
- Violations render termination fee provisions void and unenforceable; applies to contracts entered on or after the effective date
Legislative Description
AN ACT relating to merchant processing agreements.
Small Business
Last Action
to Banking & Insurance (H)
3/4/2026
Committee Referrals
Banking and Insurance3/4/2026
Committee On Committees2/25/2026
Full Bill Text
No bill text available