Subtitle 286.11 - MONEY TRANSMITTERS
- Section 286.11-001 - Short title
- Section 286.11-003 - Definitions for subtitle
- Section 286.11-005 - License required for persons engaging in money transmission - Prohibition against transfer or assignment of license
- Section 286.11-007 - Exemptions
- Section 286.11-009 - Contents of application - Additional information to be provided by corporate applicants - Power of commissioner to waive requirements
- Section 286.11-011 - Minimum net worth of licensee
- Section 286.11-013 - Bond or other security devices
- Section 286.11-015 - Permissible investments - Power of commissioner to define permissible investments - All permissible investments deemed to be held in trust for benefit of purchasers and holders
- Section 286.11-017 - Application fee and license fee
- Section 286.11-019 - Powers of commissioner to approve, deny, or refuse to issue or renew licenses - Procedure for hearing and appeal upon denial of license - Reapplication after denial
- Section 286.11-021 - Renewal of license and annual report - Expiration and reinstatement of license
- Section 286.11-023 - Extraordinary reporting requirements
- Section 286.11-025 - Changes in control of a licensee
- Section 286.11-027 - Examinations and investigations
- Section 286.11-029 - Maintenance of records
- Section 286.11-031 - Filing and maintenance of reports required by federal and state law governing money laundering
- Section 286.11-032 - Definition - Commissioner's power to order submission of required filings to the registry, its parent or affiliate, and other agencies or authorities - Power to establish relationships or contracts with governmental agencies and the registry or its affiliates - Report of violations, enforcement actions, and other relevant information - Procedure for requesting information from and distributing information to the United States Department of Justice
- Section 286.11-033 - Confidentiality of data submitted to commissioner
- Section 286.11-035 - Authorized agent contracts
- Section 286.11-037 - Authorized agent conduct - Commingled proceeds deemed trust funds - Agent's duty to report to licensee
- Section 286.11-039 - Suspension or revocation of license - Procedure for hearing and appeal upon suspension or revocation - Limitations upon reissue of license - Factors to be considered by commissioner
- Section 286.11-041 - Suspension or revocation of designation of an agent - Factors to be considered by commissioner - Procedure for hearing and appeal upon revocation of designation - Limitations upon future designation of agent after revocation
- Section 286.11-043 - Power of commissioner to issue cease and desist orders - Petition for temporary or permanent injunction
- Section 286.11-045 - Emergency order governing suspension, limitation, or restriction of license or designation of agent - Appeal from emergency order
- Section 286.11-047 - Civil penalties
- Section 286.11-049 - Consent orders
- Section 286.11-051 - Commissioner's power to stay orders pending exhaustion of administrative remedies
- Section 286.11-053 - Right of aggrieved person to apply for administrative hearing - Appeal from final order to Franklin Circuit Court
- Section 286.11-055 - Right of aggrieved person to file written complaint with commissioner - Commissioner's power to investigate and resolve complaints - Suspension of license for noncompliance with subpoena - Petition to court for enforcement
- Section 286.11-057 - Penalties
- Section 286.11-059 - Administrative proceedings to be conducted under KRS Chapter 13B
- Section 286.11-061 - Powers and duties of department and commissioner relating to the regulation, supervision, and licensing of money transmitters
- Section 286.11-063 - Licensees and agents to comply with all applicable federal and state laws
- Section 286.11-065 - Licenses issued under provisions of former KRS Chapter 366 to remain in force
- Section 286.11-067 - General Assembly intends to ensure safe and sound operation of money transmission in the Commonwealth