Kentucky Statutes 286.9-105 – Filing reports of federal currency reporting, recordkeeping, and suspicious transaction reporting
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(1) Every licensee required to register with the United States Treasury Financial Crimes Enforcement Network shall file with the commissioner all reports by federal currency reporting, recordkeeping, and suspicious transaction reporting requirements as set forth in the Bank Secrecy Act, 31 U.S.C. secs. 5311 to 5332, 31
C.F.R. pt. 103, and other federal and state laws pertaining to money laundering, for every transaction in this state. Every licensee required to register with the United States Treasury Financial Crimes Enforcement Network shall maintain copies of these reports in its records in compliance with KRS § 286.9-074, or for a time period longer than allowed by KRS § 286.9-074, where federal law prescribes.
(2) The timely filing with the appropriate federal agency of a complete and accurate report required under subsection (1) of this section is deemed to be in compliance with the requirements of subsection (1) of this section, unless the commissioner notifies the licensee that reports of the type required in subsection (1) of this section are not being regularly and comprehensively transmitted to the federal agency.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 813, effective July 15, 2010. — Created
2009 Ky. Acts ch. 98, sec. 13, effective January 1, 2010.
C.F.R. pt. 103, and other federal and state laws pertaining to money laundering, for every transaction in this state. Every licensee required to register with the United States Treasury Financial Crimes Enforcement Network shall maintain copies of these reports in its records in compliance with KRS § 286.9-074, or for a time period longer than allowed by KRS § 286.9-074, where federal law prescribes.
Terms Used In Kentucky Statutes 286.9-105
- Commissioner: means the commissioner of the Department of Financial
Institutions. See Kentucky Statutes 286.1-010 - Federal: refers to the United States. See Kentucky Statutes 446.010
- 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
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) The timely filing with the appropriate federal agency of a complete and accurate report required under subsection (1) of this section is deemed to be in compliance with the requirements of subsection (1) of this section, unless the commissioner notifies the licensee that reports of the type required in subsection (1) of this section are not being regularly and comprehensively transmitted to the federal agency.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 813, effective July 15, 2010. — Created
2009 Ky. Acts ch. 98, sec. 13, effective January 1, 2010.