(A) Any pawnbroker, as defined in § 112.01 of this code, may, in loaning money on deposit of personal property, charge, contract for or receive interest at a rate not exceeding 2% per month on the unpaid principal balance of the loan, and may charge, contract for and receive a reasonable fee, not to exceed one-fifth of the value of the loan per month, for investigating the title, storing and insuring the property, closing the loan, making daily reports to local law enforcement officers if required by § 112.03 of this code, and for other expenses, losses and incidental costs associated with servicing such loans. Further, this fee, when made and collected, shall not be deemed as interest for any purpose of law.
(B) No pawnbroker shall directly or indirectly charge, receive or contract for any interest or consideration greater that the allowed by this section.
(KRS 226.080) (Prior Code, § 112.05) Penalty, see § 112.99