{"data":{"id":"us-ky/krs-286.13-035","jurisdiction":"us-ky","citation":"KRS 286.13-035","heading":"Application -- Review and investigation -- Unconditional license --","body":"Conditional license -- Notice of intent.  (Effective April 30, 2027)\n(1) (a) A person seeking to become a licensee shall file a complete application for a\nlicense with the commissioner.\n(b) An application for a license shall not be complete unless it:\n1. Is made in writing, under oath or affirmation;\n2. Is in the format required by the commissioner;\n3. Contains, and is accompanied by, the information, documentation, and\nevidence required under KRS 286.13-040;\n4. Contains an attestation that the applicant is in, and will maintain,\ncompliance with KRS 286.13-055;\n5. Is accompanied by evidence that the requirements of KRS 286.13 -050\nhave been satisfied; and\n6. Is accompanied by a nonrefundable application fee that is determined by\nthe commissioner in accordance with KRS 286.13-070.\n(2) Within ninety (90) days after receipt of a complete application for a license, which\nperiod may be extended by the commissioner for good cause, the commissioner\nshall:\n(a) Review the application and all attachments for compliance with the\nrequirements of this subtitle;\n(b) Investigate the following of the applicant, including for each person in control\nof the applicant and each responsible individual:\n1. Competence;\n2. Experience;\n3. Character;\n4. Financial condition; and\n5. Responsibility; and\n(c) Subject to KRS 286.13-125 and subsection (4) of this section, issue:\n1. An unconditional license to the applicant to engage in virtual currency\nkiosk business at one (1) or more locations in this state;\n2. A notice of intent to issue a conditional license to the a pplicant to\nengage in virtual currency kiosk business at one (1) or more locations in\nthis state; or\n3. A notice of intent to deny the applicant's application for a license.\n(3) As part of the review and investigation of an application under subsection (2) of this\nsection, the commissioner may, in his or her discretion, investigate an applicant's\nbusiness premises.\n(4) (a) The commissioner shall issue an unconditional license to an applicant to\nengage in virtual currency kiosk business at one (1) or more lo cations in this\nstate if the commissioner determines that the applicant:\n1. Is in compliance with the requirements of this subtitle;\n2. Has reasonably demonstrated that it has the competence, experience,\ncharacter, financial condition, and responsibility t o continue to satisfy\nthe requirements of this subtitle; and\n3. Has satisfied the requirements of KRS 286.13 -045(3)(a)1. and 2. for at\nleast one (1) location in this state.\n(b) 1. The commissioner may issue a notice of intent to issue a conditional\nlicense to an applicant to engage in virtual currency kiosk business at\none (1) or more locations in this state if the commissioner determines\nthat the conditions, including any additional bond amount specified by\nthe commissioner under KRS 286.13 -050, are necess ary for the\napplicant to satisfy the requirements of paragraph (a)1., 2., and 3. of this\nsubsection.\n2. A notice of intent issued under subparagraph 1. of this paragraph shall\nspecify the additional conditions that are required for the applicant to\nobtain and maintain a license.\n3. The commissioner may issue a conditional license to an applicant to\nengage in virtual currency kiosk business at one (1) or more locations in\nthis state if the applicant files with the commissioner a written\nacceptance of the con ditions specified in the notice issued under\nsubparagraph 1. of this paragraph to the applicant within thirty (30) days\nafter service of the notice.\n4. If the department does not receive an applicant's written acceptance of\nthe conditions specified in the notice issued under subparagraph 1. of\nthis paragraph to the applicant within thirty (30) days after service of the\nnotice, the commissioner shall issue a notice of intent to deny the\napplicant's application for a license.\n(c) 1. Except as provided in para graph (b) of this subsection, the\ncommissioner shall issue a notice of intent to deny an applicant's\napplication for a license if the commissioner determines that:\na. Denial of the license is warranted under KRS 286.13-130; or\nb. The requirements of paragr aph (a)1., 2., and 3. of this subsection\nare not satisfied.\n2. A notice of intent to deny an applicant's application for a license shall\nspecify the reasons for the determination.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58282","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:16Z","sha256":"58d4f57a5807143dcc274e130141524ff940afe58abcce426db7557e52afe992","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.13-030","next":"us-ky/krs-286.13-040"},"notice":"GroundRules: Original legal text. Not legal advice."}