Subtitle
Subtitle 11. Money Transmitters
- KRS 286.11-001— Short title
- KRS 286.11-003— Definitions for subtitle
- KRS 286.11-005— License required for persons engaging in money transmission -- Prohibition against transfer or assignment of license
- KRS 286.11-007— Exemptions
- KRS 286.11-009— Contents of application -- Additional information to be provided by corporate applicants -- Power of commissioner to waive requirements
- KRS 286.11-011— Minimum net worth of licensee
- KRS 286.11-013— Bond or other security devices
- KRS 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
- KRS 286.11-017— Application fee and license fee
- KRS 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
- KRS 286.11-021— Renewal of license and annual report -- Expiration and reinstatement of license
- KRS 286.11-023— Extraordinary reporting requirements
- KRS 286.11-025— Changes in control of a licensee
- KRS 286.11-027— Examinations and investigations
- KRS 286.11-029— Maintenance of records
- KRS 286.11-031— Filing and maintenance of reports required by federal and state law governing money laundering
- KRS 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
- KRS 286.11-033— Confidentiality of data submitted to commissioner
- KRS 286.11-035— Authorized agent contracts
- KRS 286.11-037— Authorized agent conduct -- Commingled proceeds deemed trust funds -- Agent's duty to report to licensee
- KRS 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
- KRS 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
- KRS 286.11-043— Power of commissioner to issue cease and desist orders -- Petition for temporary or permanent injunction
- KRS 286.11-045— Emergency order governing suspension, limitation, or restriction of license or designation of agent -- Appeal from emergency order
- KRS 286.11-047— Civil penalties
- KRS 286.11-049— Consent orders
- KRS 286.11-051— Commissioner's power to stay orders pending exhaustion of administrative remedies
- KRS 286.11-053— Right of aggrieved person to apply for administrative hearing -- Appeal from final order to Franklin Circuit Court
- KRS 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
- KRS 286.11-057— Penalties
- KRS 286.11-059— Administrative proceedings to be conducted under KRS Chapter 13B
- KRS 286.11-061— Powers and duties of department and commissioner relating to the regulation, supervision, and licensing of money transmitters
- KRS 286.11-063— Licensees and agents to comply with all applicable federal and state laws
- KRS 286.11-065— Licenses issued under provisions of former KRS Chapter 366 to remain in force
- KRS 286.11-067— General Assembly intends to ensure safe and sound operation of money transmission in the Commonwealth