{"data":{"id":"us-ky/krs-286.11-009","jurisdiction":"us-ky","citation":"KRS 286.11-009","heading":"Contents of application -- Additional information to be provided by","body":"corporate applicants -- Power of commissioner to waive requirements.\n(1) Each application for a license under this subtitle shall be made in writing and in a\nform and medium prescr ibed by regulation by the commissioner. The application\nshall state or contain the following:\n(a) The legal name of the applicant, business addresses, and residential addresses,\nif applicable, of the applicant, and any fictitious or trade name used by the\napplicant in conducting its business;\n(b) The legal name, residential and business addresses, date of birth, Social\nSecurity number, and employment history for the five (5) year period\npreceding the filing of the application, of the applicant's proposed re sponsible\nindividual;\n(c) A list and description of any criminal conviction, other than a traffic violation,\nof the applicant and proposed responsible individual, for the ten (10) year\nperiod preceding the filing of the application. The commissioner may re quest\na copy of any criminal conviction from the applicant, which shall be promptly\nprovided by the applicant to the commissioner within ten (10) working days of\nthe request;\n(d) A list and description of any material litigation of the applicant and propos ed\nresponsible individual, for the ten (10) year period preceding the filing of the\napplication. The commissioner may request a copy of any material litigation\nfrom the applicant, which shall be promptly provided by the applicant to the\ncommissioner within ten (10) working days of the request;\n(e) A description of the activities conducted by the applicant and a history of\noperations, including, if applicable, a description of any money transmission\nthat has been previously provided by the applicant in this state;\n(f) A list of other states or countries in which the applicant is licensed to engage\nin money transmission or other similar money services, and any license\nrevocations, suspensions, restrictions, or other disciplinary action taken\nagainst the applicant in another state or country;\n(g) A list of any license revocations, suspensions, restrictions, or other\ndisciplinary action taken against any money transmission business involving\nthe proposed responsible individual;\n(h) A description of the source of money and credit to be used by the applicant to\nprovide money transmissions;\n(i) A sample form of contract for an agent;\n(j) A sample form of payment instrument;\n(k) Information concerning any bankruptcy, reorganization, or receivership\nproceedings involving or affecting the applicant or the proposed responsible\nindividual;\n(l) A list identifying the name, physical location or locations, and telephone\nnumber at which the applicant and its proposed agents intend to conduct\nmoney transmission business in the state at the time of the filing of the license\napplication;\n(m) The name, address, and telephone number of the clearing bank or banks on\nwhich the applicant's payment instruments will be drawn or through which\nsuch payment instruments will be payable;\n(n) A copy of the written procedures that will be provided by the applicant or\nlicensee to its agent or agents;\n(o) That neither the applicant, nor any executive officer, nor person who exercises\ncontrol over the applicant, nor key shareholder, nor any propose d agent, nor\nthe proposed responsible individual, is listed on the specially designated\nnationals and blocked persons list prepared by the United States Department\nof the Treasury or the United States Department of State under Presidential\nExecutive Order No. 13224 as a potential threat to commit terrorist acts and to\nfinance terrorist acts; and\n(p) Any other information regarding the background, experience, character,\nfinancial responsibility, or general fitness of the applicant, the applicant's\nresponsible individual, or agent that the commissioner may require by rule or\norder.\n(2) If the applicant is a corporation, limited liability company, partnership, or other\nentity, then the applicant shall also provide:\n(a) A copy of the applicant's filed articles of incorporation;\n(b) The name, address, and telephone number of the registered process agent of\nthe applicant in this state;\n(c) If applicable, then a certificate of good standing from the state or country in\nwhich the applicant was incorporated or formed;\n(d) A description of the corporate structure of the applicant, including the identity\nof any parent or subsidiary of the applicant, and the disclosure of whether any\nparent or subsidiary is publicly traded on any stock exchange;\n(e) The legal name, any fi ctitious or trade name, all business and residence\naddresses, date of birth, Social Security number, and employment history for\nthe ten (10) year period preceding the filing of the application for each\nexecutive officer, board director, key shareholder, or person that has control of\nthe applicant;\n(f) Copies and description of material litigation for the ten (10) year period prior\nto the filing date of the application of every executive officer or key\nshareholder of the applicant;\n(g) Copies and description s of criminal convictions, other than traffic violations,\nfor the ten (10) year period prior to the filing date of the application of every\nexecutive officer or key shareholder of the applicant;\n(h) A copy of the applicant's audited financial statements fo r the most recent\nfiscal year or, if the applicant is a wholly owned subsidiary of another\ncorporation, the most recent audited consolidated annual financial statement\nof the parent corporation or the applicant's most recent audited consolidated\nannual financial statements and, in each case, if available, for the two (2) year\nperiod preceding the filing of the application;\n(i) A copy of the applicant's unconsolidated financial statements for the current\nfiscal year, whether audited or not, and, if available , for the two (2) year\nperiod preceding the filing of the application;\n(j) If the applicant is publicly traded, then a copy of the most recent report filed\nwith the United States Securities and Exchange Commission pursuant to 15\nU.S.C. sec. 78m;\n(k) If the applicant is a wholly owned subsidiary of:\n1. A corporation publicly traded in the United States, then a copy of\naudited financial statements for the parent corporation for the most\nrecent fiscal year or a copy of the parent corporation's most recent report\nfiled with the United States Securities and Exchange Commission\npursuant to 15 U.S.C. sec. 78m; or\n2. A corporation publicly traded outside of the United States, a copy of\nsimilar documentation for the most recent fiscal year filed with the\nregulator of the parent corporation's domicile outside the United States.\n(3) Every corporate applicant, at the time of filing of an application for a license under\nthis subtitle and at all times after a license is issued, shall be in good standing in the\nstate of its incorporation.\n(4) Every applicant shall, at the time of the filing of an application for a license under\nthis subtitle and at all times after a license is issued, be registered or qualified to do\nbusiness in this state.\n(5) The commissioner is authorized , for good cause, to waive any requirement of this\nsection with respect to any license application or to permit a license applicant to\nsubmit substituted information in its license application in lieu of the information\nrequired by this section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14948","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:15Z","sha256":"b7555d2dd78bfd0c1e3cdd1153c8c3b0d92f3e7a607a3356f70db02a3942d2e5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.11-007","next":"us-ky/krs-286.11-011"},"notice":"GroundRules: Original legal text. Not legal advice."}