KRS 286.8-140: Powers of commissioner.

(1) The commissioner shall exercise general supervision and control over mortgage

loan companies and mortgage loan brokers doing business in the Commonwealth of

Kentucky.

(2) In addition to the other duties imposed upon him or her by law, the powers and

duties of the commissioner shall be:

(a) 1. To promulgate such administrative regulations, forms, and orders as are

deemed to be necessary and appropriate to accomplish the basic

purposes of and the provisions contained within this subtitle.

2. The commissioner may from time to time make, amend, and rescind

such administrative regulations, forms, and orders, including regulations

and forms governing applications, registration, reports, and loan

disclosure statements and defining any terms, whether or not used in this

subtitle, insofar as the definitions are not inconsistent with the

provisions of this subtitle.

3. For the purpose of administrative regulations and forms, the

commissioner may classify loans, persons, and matters within his or her

jurisdiction and prescribe different requirements for different classes.

4. An administrative regulation, form, or order may not be made, amended,

or rescinded unless the commissioner finds that the action is necessary

or appropriate in the public interest and consistent wit h the purposes

fairly intended by the policy and provisions of this subtitle.

5. In promulgating administrative regulations and forms, the commissioner

may cooperate with other state and federal agencies with a view to

achieving maximum uniformity in the f orm and content of applications,

reports, and loan disclosure statements whenever practical;

(b) To conduct such investigations as may be necessary to determine whether any

person has engaged in or is about to engage in any act, practice, or course of

conduct constituting a violation of any provision of this subtitle;

(c) To conduct such examinations, investigations, and hearings, in addition to

those specifically provided for by law, as may be necessary and proper for the

efficient administration of this subtitle; and

(d) 1. At the commissioner's discretion, to require filings and fees required

under this subtitle to be electronically filed with:

a. The State Regulatory Registry, LLC, or its successor organization;

b. The State Regulatory Registry, LLC's parent, affiliate, or operating

subsidiary;

c. Other agencies or authorities that are part of the Nationwide

Multistate Licensing System and Registry; or

d. Other agencies or authorities consistent with the intent of KR S

286.8-285.

2. The commissioner may accept uniform mortgage examinations or other

procedures designed to implement a uniform national mortgage

regulatory system or facilitate common practices and procedures among

the states.