16a-1-102. (UCCC) Purposes; rules of construction.
16a-1-102
16a-1-102. (UCCC) Purposes; rules of construction.
(1) K.S.A. 16a-1-101 through 16a-9-102, and amendments thereto, shall be
liberally construed and applied to promote its underlying
purposes and policies.
(2) The underlying purposes and policies of this
act are:
(a) To simplify, clarify and modernize the law governing retail
installment sales, consumer credit and consumer loans;
(b) to provide rate ceilings to assure an adequate supply of credit
to consumers;
(c) to further consumer understanding of the terms of credit
transactions and to foster competition among suppliers of consumer
credit so that consumers may obtain credit at reasonable cost;
(d) to protect consumer buyers, lessees, and borrowers against
unfair practices by some suppliers of consumer credit, having due regard
for the interests of legitimate and scrupulous creditors;
(e) to permit and encourage the development of fair and economically
sound consumer credit practices; and
(f) to make uniform the law, including administrative rules and regulations, among
the various jurisdictions.
(3) A reference to a requirement imposed by K.S.A. 16a-1-101 through
16a-9-102, and amendments thereto, includes reference to a
related rule and regulation of the administrator adopted pursuant to
this act.
History: L. 1973, ch. 85, § 2; L. 1981, ch. 93, § 2;
L. 1988, ch. 85, § 1; July 1.