KRS 286.11-045: Emergency order governing suspension, limitation, or restriction of

license or designation of agent -- Appeal from emergency order.

(1) If the commissioner has reason to believe or determines that a violation of this

subtitle or of a regulation ado pted, or an order issued under this subtitle, by a

licensee or agent will cause immediate or irreparable harm to the public health,

safety, or welfare, then the commissioner may enter an emergency order

suspending, limiting, or restricting the licensee's l icense or the designation of an

agent, without prior notice or hearing.

(2) One (1) or more of the following circumstances shall be considered grounds for an

emergency order suspending, limiting, or restricting a license or designation of an

agent under this section:

(a) The licensee's or agent's indictment or conviction of a felony for a crime

involving theft, fraud, or breach of trust;

(b) The licensee's or agent's indictment or conviction under the USA PATRIOT

Act of 2001, Pub. L. No. 107-56;

(c) The sus pension or revocation of any other money transmitter license or

equivalent license held by the licensee, or designation held by the agent in

another state or country;

(d) The licensee, its responsible individual, or any agent, key shareholder,

executive officer, director, or other person in control of the licensee are listed

or become listed on the specially designated nationals and blocked persons list

prepared by the United States Department of the Treasury or United States

Department of State under Presi dential Executive Order No. 13224 as a

potential threat to commit terrorist acts or to finance terrorist acts; or

(e) Insolvency, or the filing of an application of bankruptcy, reorganization,

arrangement, or other relief under bankruptcy, or an adjudicati on under the

United States Bankruptcy Code, 11 U.S.C. secs. 101 to 110 by the licensee or

agent.

(3) An emergency order issued under this section becomes effective when signed by the

commissioner. The emergency order shall be delivered by certified mail to the last

known address of the licensee or agent. The order shall be deemed received by the

licensee or agent within three (3) days of its mailing with the United States Postal

Service.

(4) A licensee or agent aggrieved by an emergency order issued by the commissioner

under this section may file with the commissioner a written appeal for an

emergency hearing. The application for a hearing shall be filed with the

commissioner within twenty (20) days of the date of the emergency order.

(5) Upon receipt of a w ritten appeal by any licensee or agent aggrieved by an

emergency order issued under this section, the commissioner shall conduct an

emergency hearing as required under KRS 13B.125, within ten (10) working days

from the date of receipt of the appeal, unless the parties agree otherwise. The

hearing officer shall render a written decision affirming, modifying, or reversing the

emergency order within five (5) working days of the completion of the hearing. The

emergency order shall be affirmed if there is substa ntial evidence of a violation of

law that constitutes an immediate danger to the public health, safety, or welfare.