138.462 Definitions for KRS 138.463 and 138.4631. - Kentucky Statutes

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138.462 Definitions for KRS 138.463 and 138.4631. As used in KRS 138.463 and 138.4631, unless the context requires otherwise:
(1) "Cabinet" means the Transportation Cabinet;
(2) "Rent" and "rental" means a contract, supported by a consideration, for the use of a motor vehicle for a period of less than three hundred sixty-five (365) days; (3) "Lease" and "leasing" means a contract, supported by a consideration, for the use of a motor vehicle for a period of three hundred sixty-five (365) days or more; and (4) "Gross rental charge" means the amount paid by a customer for time and mileage only. Effective: January 1, 1987
History: Created 1986 Ky. Acts ch. 431, sec. 3, effective January 1, 1987.
Legislative Research Commission Note. Acts 1986, ch. 431,