There is a newer version of the Kentucky Revised Statutes
2006 Kentucky Revised Statutes - Subtitle 11. Kentucky Money Transmitters
- .001 Short Title.
- .003 Definitions for subtitle.
- .005 License required for persons engaging in money transmission -- Prohibition against transfer or assignment of license.
- .007 Exemptions.
- .009 Contents of application -- Additional information to be provided by corporate applicants -- Power of executive director to waive requirements.
- .011 Minimum net worth of licensee.
- .013 Bond or other security device.
- .015 Permissible investments -- Power of executive director to define permissible investments -- All permissible investments deemed to be held in trust for benefit of purchasers and holders.
- .017 Application fee and license fee.
- .019 Powers of executive director to approve, deny, or refuse to issue or renew licenses -- Procedure for hearing and appeal upon denial of license -- Reapplication after denial.
- .021 Renewal of license and annual report -- Expiration and reinstatement of license.
- .023 Extraordinary reporting requirements.
- .025 Changes in control of a licensee.
- .027 Examinations and investigations.
- .029 Maintenance of records.
- .031 Filing and maintenance of reports required by federal and state law governing money laundering.
- .033 Confidentiality of data submitted to executive director.
- .035 Authorized agent contracts.
- .037 Authorized agent conduct -- Commingled proceeds deemed trust funds -- Agent's duty to report to licensee.
- .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 executive director.
- .041 Suspension or revocation of designation of an agent -- Factors to be considered by executive director -- Procedure for hearing and appeal upon revocation of designation -- Limitations upon future designation of agent after revocation.
- .043 Power of executive director to issue cease and desist orders -- Petition for temporary or permanent injunction.
- .045 Emergency order governing suspension, limitation, or restriction of license or designation of agent -- Appeal from emergency order.
- .047 Civil penalties.
- .049 Consent orders.
- .051 Executive director's power to stay orders pending exhaustion of administrative remedies.
- .053 Right of aggrieved person to apply for administrative hearing -- Appeal from final order to Franklin Circuit Court.
- .055 Right of aggrieved person to file written complaint with executive director -- Executive director's power to investigate and resolve complaints -- Suspension of license for noncompliance with subpoena -- Petition to court for enforcement.
- .057 Penalties.
- .059 Administrative proceedings to be conducted under KRS Chapter 13B.
- .061 Powers and duties of office and executive director relating to the regulation, supervision, and licensing of money transmitters.
- .063 Licensees and agents to comply with all applicable federal and state laws.
- .065 Licenses issued under provisions of former KRS Chapter 366 to remain in force.
- .067 General Assembly intends to ensure safe and sound operation of money transmission in the Commonwealth.
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