Kentucky Statutes 15.274 – Denial of application if applicant culpable in crime bearing relationship to participation — Notice of approval. (Effective March 15, 2024)
Current as of: 2024 | Check for updates
|
Other versions
(1) The director shall deny an application for participation in the regulatory sandbox if the applicant or any person who seeks to participate with the applicant in demonstrating an offering has been convicted, entered a plea of nolo contendere, or entered a plea of guilty or nolo contendere held in abeyance, for any crime involving significant theft, fraud, or dishonesty if the crime bears a significant relationship to the applicant’s or other participant’s ability to safely and competently participate in the regulatory sandbox.
(2) When an applicant is approved for participation in the regulatory sandbox, the director may provide notice of the approval to competitors of the applicant and to the public.
Effective: March 15, 2024
History: Created 2023 Ky. Acts ch. 122, sec. 7, effective March 15, 2024.
(2) When an applicant is approved for participation in the regulatory sandbox, the director may provide notice of the approval to competitors of the applicant and to the public.
Terms Used In Kentucky Statutes 15.274
- Fraud: Intentional deception resulting in injury to another.
- Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
Effective: March 15, 2024
History: Created 2023 Ky. Acts ch. 122, sec. 7, effective March 15, 2024.