United States — Kansas
Kansas Statutes § 9-575 Authorized delegate report; information included.
1 provisions
Each licensee must file a quarterly authorized-delegates report within 45 days after each calendar quarter ends.
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United States — Kansas Statutes
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United States — Kansas
Kansas Statutes § 9-576 Report required upon occurrence of certain administrative or legal proceedings.
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A licensee must report certain bankruptcy, receivership, dissolution, license-revocation, or felony-conviction events to the commissioner within short deadlines.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-577 Federal reporting requirements.
1 provisions
Licensees and authorized delegates must file required federal currency, recordkeeping, and suspicious activity reports with the appropriate federal agency.
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Kansas Statutes § 9-578 Records retention; open inspection by the commissioner.
1 provisions
Licensees must keep specified records for at least three years and make them available to the commissioner; records may be kept in any form and, if outside the state, must be accessible on seven business days' notice.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-579 Authorized delegate; requirements and limitations.
1 provisions
Licensees must adopt compliance policies, sign a written contract, and check authorized delegates before using them; authorized delegates must comply with the act and cannot use subdelegates.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-580 Liability when conducting money transmission on behalf of an unlicensed person.
1 provisions
A person must not conduct money transmission on behalf of someone who is not licensed or exempt; doing so triggers joint and several liability.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-581 Forwarding moneys received for transmission, excption; failure to forward.
1 provisions
Licensees must forward money received for transmission as agreed with the sender, unless fraud or legal-violation concerns justify not forwarding it.
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Kansas Statutes § 9-582 Refunds; requirements.
1 provisions
A licensee must refund money received for transmission within 10 days after a sender’s written request, unless a stated exception applies.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-583 Receipts for money received for transmission; contents.
1 provisions
Licensees or their authorized delegates must give the sender a receipt for money received for transmission, with specified contents and language requirements.
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Kansas Statutes § 9-584 Statement regarding questions or complaints required.
1 provisions
Licensees and authorized delegates must show the state bank commissioner office name and a customer-complaints statement on receipts or on their website or mobile app.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-585 Licensee providing payroll processing services; requirements.
1 provisions
A payroll-processing licensee must give clients payroll obligation reports before funds are deducted and must provide workers with paystubs or an equivalent statement.
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Kansas Statutes § 9-586 Net worth requirements of licensee; exemption by the commissioner.
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Licensees must keep a minimum tangible net worth, and the commissioner may exempt an applicant or licensee from these requirements.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-587 Surety bond or other required security.
1 provisions
Applicants for a money transmission license must provide security, and licensees must keep it in place. The security is a surety bond or, with the commissioner’s approval, a deposit instead of a bond.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-588 Permissible investments; trust required.
1 provisions
A licensee must keep permissible investments at least equal to its outstanding money transmission obligations, and those investments are held in trust for the benefit of purchasers and holders when specified events occur.
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Kansas Statutes § 9-589 Permissible investments.
1 provisions
This section lists what investments a licensee may count as permissible and sets percentage limits for some categories.
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Kansas Statutes § 9-590 Suspension or revocation of license, reasons or circumstances therefor; notice and hearing.
1 provisions
The commissioner may suspend or revoke a license, or require a licensee to revoke an authorized delegate designation, after notice and a hearing if listed misconduct or risk conditions exist.
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Kansas Statutes § 9-591 Suspension or revocation of the designation of an authorized delegate, reasons or circumstances therefor.
1 provisions
The commissioner may suspend or revoke an authorized delegate’s designation for listed misconduct or unsound practices, and the authorized delegate may seek relief under commissioner procedures.
Act or statute Open & ChatUnited States — Kansas
Kansas Statutes § 9-592 Issuance of cease and desist order by commissioner.
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The commissioner may order a licensee or authorized delegate to stop violating this act or related rules if the violation is likely to cause serious harm or asset loss.
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Kansas Statutes § 9-593 Consent order.
1 provisions
The commissioner may enter into a consent order with a person to resolve a matter under the act or related rules or orders. The person or authorized representative must sign the order and show agreement with its terms.
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Kansas Statutes § 9-594 Criminal penalities for violations of the act.
1 provisions
This section makes certain intentional false record entries and unlicensed licensed activities criminal offenses, with felony or misdemeanor penalties depending on the facts.
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