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Kentucky Revised Statutes

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Statutes Last Updated July 23, 2012

Includes Enactments through the 2012 Extraordinary Session
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KRS Chapter 286.11

  • .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 commissioner to waive requirements.

  • .011   Minimum net worth of licensee.

  • .013   Bond or other security devices.

  • .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.  

  • .017   Application fee and license fee.

  • .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.

  • .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 commissioner.

  • .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 commissioner.

  • .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.

  • .043   Power of commissioner 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   Commissioner'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 commissioner -- Commissioner'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 department and commissioner 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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