KRS 286.13-135: Emergency order. (Effective April 30, 2027)

(1) As used in this section:

(a) "Emergency order" means an order that does one (1) or more the following

without prior notice and hearing:

1. Suspends or conditions:

a. Any license; or

b. An approval to engage in virtual currency kiosk business at a

location, or through an agent, in this state; or

2. Directs any peace officer to:

a. Seize or impound a virtual currency kiosk, including any contents

thereof; or

b. Render a virtual currency kiosk inoperable; and

(b) "Person" means any licensee, virtual currency kiosk operator, agent, or other

person.

(2) Subject to KRS 286.13 -125, the commissioner may issue an emergency order

against any person, pending further investigation, the entry of a final order, or other

final legal action, if the commissioner has reason to believe or determines one (1) or

more of the following:

(a) The person is acting in violation of KRS 286.13-025;

(b) The licensee is not in compliance with KRS 286.13-050;

(c) The person has committed a mate rial violation of this subtitle that poses an

immediate and irreparable harm to the public health, safety, or welfare;

(d) Subject to KRS 335B.020, the licensee or agent has been convicted of, pled

guilty to, or pled nolo contendere, or the licensee is kno wingly employing or

contracting with a responsible individual that has been convicted of, pled

guilty to, or pled nolo contendere, to a:

1. Felony involving theft, fraud, or breach of trust; or

2. A crime under the USA PATRIOT Act of 2001, Pub. L. No. 107-56;

(e) The licensee has had any license, registration, claim of exemption, or other

authorization to do business relating to money transmission or virtual

currency kiosk business denied, revoked, suspended, or terminated by any

state, federal, or foreign jurisdiction;

(f) The licensee, agent, the licensee's responsible individual, or any key

shareholder, executive officer, director, or other person in control of the

licensee or agent is listed or becomes listed on the specially designated

nationals and blo cked persons list prepared by the United States Department

of the Treasury or United States Department of State under Presidential

Executive Order No. 13224 as a potential threat to commit terrorist acts or to

finance terrorist acts; or

(g) The licensee or agent is insolvent or otherwise satisfies one (1) of the grounds

listed in KRS 286.13-130(2)(b).

(3) An emergency order issued under this section shall:

(a) Pursuant to KRS 13B.125, become effective when served by the

commissioner; and

(b) Remain in effect until it is:

1. Stayed, withdrawn, suspended, or superseded by order of the

commissioner; or

2. Terminated by court order.