{"data":{"id":"us-ky/krs-286.11-027","jurisdiction":"us-ky","citation":"KRS 286.11-027","heading":"Examinations and investigations.","body":"(1) The commissioner may conduct an examination or investigation of a licensee or any\nof its agents, as it relates to the business of money transmission.\n(2) The commissioner may conduct an examination or investigation in conjunction with\nrepresentatives of ot her agencies of this state or agencies of another state or of the\nfederal government. Instead of an examination, the commissioner may accept the\nexamination report of an agency of this state or of another state or of the federal\ngovernment or a report prep ared by an independent licensed or certified public\naccountant. The reasonable expenses incurred by the department, other Kentucky\nagencies, agencies of another state, agencies of the federal government, or an\nindependent licensed or certified accountant i n making such examination,\ninvestigation, or report shall be borne by the licensee.\n(3) A joint examination or an acceptance of an examination report does not preclude\nthe commissioner from conducting an examination as provided by law. A joint\nreport or a report accepted under this subsection is an official report of the\ncommissioner for all purposes.\n(4) A licensee or agent is deemed to consent to the commissioner's examination or\ninvestigation, whether or not prior notice is given to the licensee or agent , of the\nbooks, records, and business operations of the licensee or agent of the licensee.\n(5) A report of examination of a licensee under this section shall be considered\nconfidential and privileged and not subject to disclosure under the Kentucky Open\nRecords Act, KRS 61.870 to 61.884. However, a licensee may disclose a Kentucky\nreport of examination to a financial institution upon written request from the\nfinancial institution for the purpose of assisting the financial institution in its\ncompliance with the Bank Secrecy Act, 31 U.S.C. secs. 5311 to 5332 and 31 C.F.R.\npt. 103. The licensee shall provide written notice to the commissioner of the\ndisclosure of the Kentucky report of examination at the same time that disclosure is\nmade to the financial institution.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14957","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:15Z","sha256":"fa7d7004ade2601e732a7e1dd1de4d9d5bf62bd5abe1fa55db0eee37d9008c49","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.11-025","next":"us-ky/krs-286.11-029"},"notice":"GroundRules: Original legal text. Not legal advice."}