Kentucky Statutes 286.9-080 – Licenses — Renewal and reinstatement
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(1) Each license may be renewed for the ensuing twelve (12) month period upon the timely submission of a completed renewal application and payment to the commissioner annually on or before December 31 of each year of the following fees:
(a) Five hundred dollars ($500) for the first location; and
(b) Five hundred dollars ($500) for each additional location.
(2) The commissioner may reinstate a license that has expired within thirty-one (31)
days of the expiration of the license if the licensee pays: (a) A late fee of one hundred dollars ($100); and
(b) A reinstatement fee of five hundred dollars ($500).
(3) A license shall not be reinstated when the renewal application, fees, or any required information is received after January 31 of the following year that the application was due.
(4) The commissioner may, by promulgation of an administrative regulation pursuant to KRS Chapter 13A, modify the dates for submissions under this section when necessary to:
(a) Implement uniform national licensing procedures; or
(b) Facilitate common practices and procedures among the states.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 33, sec. 1, effective June 29, 2023. — Amended
2010 Ky. Acts ch. 24, sec. 808, effective July 15, 2010. — Amended 2009 Ky. Acts ch. 98, sec. 3, effective January 1, 2010. — Amended 1998 Ky. Acts ch. 601, sec. 7, effective April 14, 1998. — Created 1992 Ky. Acts ch. 213, sec. 8, effective July 14,
1992; and ch. 341, sec. 8, effective July 14, 1992.
Formerly codified as KRS § 368.080.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286.
(a) Five hundred dollars ($500) for the first location; and
Terms Used In Kentucky Statutes 286.9-080
- Commissioner: means the commissioner of the Department of Financial
Institutions. See Kentucky Statutes 286.1-010 - Licensee: means a person who has been issued either a check cashing license or a deferred deposit service business license by the commissioner in accordance with this subtitle to conduct check cashing or deferred deposit service business in the Commonwealth. See Kentucky Statutes 286.9-010
- Month: means calendar month. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
- Year: means calendar year. See Kentucky Statutes 446.010
(b) Five hundred dollars ($500) for each additional location.
(2) The commissioner may reinstate a license that has expired within thirty-one (31)
days of the expiration of the license if the licensee pays: (a) A late fee of one hundred dollars ($100); and
(b) A reinstatement fee of five hundred dollars ($500).
(3) A license shall not be reinstated when the renewal application, fees, or any required information is received after January 31 of the following year that the application was due.
(4) The commissioner may, by promulgation of an administrative regulation pursuant to KRS Chapter 13A, modify the dates for submissions under this section when necessary to:
(a) Implement uniform national licensing procedures; or
(b) Facilitate common practices and procedures among the states.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 33, sec. 1, effective June 29, 2023. — Amended
2010 Ky. Acts ch. 24, sec. 808, effective July 15, 2010. — Amended 2009 Ky. Acts ch. 98, sec. 3, effective January 1, 2010. — Amended 1998 Ky. Acts ch. 601, sec. 7, effective April 14, 1998. — Created 1992 Ky. Acts ch. 213, sec. 8, effective July 14,
1992; and ch. 341, sec. 8, effective July 14, 1992.
Formerly codified as KRS § 368.080.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286.