(a) If a licensee does not continue to meet the qualifications or satisfy the requirements of an applicant for a new money transmission license, the commissioner may suspend or revoke the licensee's license in accordance with the procedures established by this act or other applicable state law for such suspension or revocation.
(b) An applicant for a money transmission license shall demonstrate that such applicant meets or will meet and a money transmission licensee shall at all times meet, the requirements of K.S.A. 2025 Supp. 9-586 , 9-587 and 9-588 , and amendments thereto.
(c) This section shall take effect on and after January 1, 2025.