Please note that there has been a revision made to the LAW®553-KY(4P)1/24 contract as well as the LAW®553-KY-ARB1/24. The new form numbers are LAW®553-KY(4P)10/25 and LAW®553-KY-ARB10/25.
We modified the Late Charge provision to accommodate the different grace periods allowed under Kentucky law (KY SB 145).
New programming will be required for the new revision. The standard and ARB versions will not line up the same as each other for programming purposes.
Inventory for the new product will be available by August 18, 2025. Dealers should begin using the new contract by October 1, 2025.
The Bankers Systems® brand Motor Vehicle Retail Installment Sale Contracts will also be revised and announced in a separate message.