2011 Kentucky Revised Statutes Subtitle 11. Money Transmitters 286.11.061 Powers and duties of department and commissioner relating to the regulation, supervision, and licensing of money transmitters.
KY Rev Stat § 286.11.061 (1996 through Reg Sess) What's This?
286.11-061 Powers and duties of department and commissioner relating to the
regulation, supervision, and licensing of money transmitters.
(1)
(2)
(3)
The department shall exercise all administrative functions of the state in relation to
the regulation, supervision, and licensing of money transmitters.
The commissioner may promulgate, amend, and repeal any administrative
regulations, forms, and orders as are necessary to interpret and enforce the
provisions of this subtitle.
The commissioner may request any additional information as the commissioner
deems necessary to interpret and carry out any of the provisions of this subtitle from
any applicant, licensee, agent, responsible individual, controlling person, executive
officer, or key shareholder.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 857, effective July 15, 2010. -- Created
2006 Ky. Acts ch. 247, sec. 31, effective April 24, 2006.
Legislative Research Commission Note (7/12/2006). This section was created in 2006
Ky. Acts ch. 247 as a new section of KRS Chapter 366A. Sec. 38 of that same bill
also required that all sections of KRS Chapters 287, 288, 290, 291, 294, 366, 366A,
and 368 be renumbered as sections of a single KRS chapter entitled the "Kentucky
Financial Services Code." Therefore, the Statute Reviser, acting under KRS 7.136(1),
has codified this section as a new section of KRS Chapter 286. 2006.
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