2011 Kentucky Revised Statutes Subtitle 8. Mortgage Loan Companies and Brokers 286.8.080 Factors for use by commissioner in determining approval or disapproval of application.
KY Rev Stat § 286.8.080 (1996 through Reg Sess) What's This?
286.8-080 Factors for use by commissioner in determining approval or disapproval
of application.
Upon receipt of the application the commissioner shall first determine whether or not it
complies with the provisions of this subtitle and, if the commissioner so finds, he or she
shall then inquire into the advisability of approving the application by determining
whether the applicant demonstrates such financial responsibility, financial condition, and
business expertise, character and general fitness to reasonably warrant the belief that the
applicant's business will be conducted honestly, fairly and efficiently and in such a way as
to justify public confidence. The commissioner may investigate and consider the
qualifications of officers and directors or principals of an applicant in determining
whether this qualification has been met. If the commissioner finds that the applicant
meets all the above requirements, he shall approve the application.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 774, effective July 15, 2010. -- Amended
1986 Ky. Acts ch. 461, sec. 10, effective July 15, 1986. -- Created 1980 Ky. Acts
ch. 365, sec. 9, effective July 15, 1980.
Formerly codified as KRS 294.080.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts
ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the
Kentucky Financial Services Code, KRS Chapter 286, and KRS references within
this statute have been adjusted to conform with the 2006 renumbering of that code.
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