{"data":{"id":"us-ky/krs-286.13-045","jurisdiction":"us-ky","citation":"KRS 286.13-045","heading":"Applications for approval of locations and agents -- Duties of","body":"commissioner.  (Effective April 30, 2027)\n(1) (a) An applicant or licensee seeking to engage in virtual currency kiosk business\nat one (1) or more locations in this state, either d irectly or through an agent,\nshall file a complete application for approval of the location or locations with\nthe commissioner.\n(b) An applicant or licensee seeking to designate one (1) or more agents to\nengage in virtual currency kiosk business on behalf of the applicant or\nlicensee in this state shall file a complete application for approval of the agent\nor agents with the commissioner.\n(2) (a) Subject to paragraph (b) of this subsection, an application for approval to\nengage in virtual currency kiosk bus iness at one (1) or more locations, or\nthrough one (1) or more agents, in this state shall not be complete unless it:\n1. Is made in writing, under oath or affirmation;\n2. Is in a format required by the commissioner;\n3. Contains, and is accompanied by, the information, documentation, and\nevidence required or permitted under KRS 286.13 -040 that the\ncommissioner determines is necessary and appropriate for the purpose\nof making the determination under subsection (3) of this section; and\n4. Is accompanied by a n onrefundable fee for each location and agent that\nis determined by the commissioner in accordance with KRS 286.13-070,\nexcept the commissioner may waive the nonrefundable fee for any\napplication that is made at the same time as a license application under\nKRS 286.13-035.\n(b) When an applicant seeks approval to engage in virtual currency kiosk\nbusiness at one (1) or more locations, or through one (1) or more agents, in\nthis state at the same time as filing a license application under KRS 286.13 -\n035, the commissioner may:\n1. Accept the license application as the complete application required\nunder this section; or\n2. Require the applicant to submit additional information to the\ncommissioner as part of the license application for each location, agent,\nor location and agent.\n(3) Upon receipt of a complete application in accordance with subsection (2) of this\nsection, and subject to KRS 286.13 -125, the commissioner shall do one (1) of the\nfollowing for each proposed location and agent:\n(a) The commissioner shall issue an unconditional approval to the applicant or\nlicensee to engage in virtual currency kiosk business at the location, or\nthrough the agent, in this state if, after inves tigation, the commissioner\ndetermines that:\n1. The applicant or licensee will conduct business at the location, or\nthrough the agent, in a lawful and proper manner; and\n2. The interest of the public will not be jeopardized by the applicant or\nlicensee conducting business at the location or through the agent;\n(b) 1. The commissioner may issue a notice of intent to issue a conditional\napproval to the applicant or licensee to engage in virtual currency kiosk\nbusiness at the location, or through the agent, in t his state if the\ncommissioner, after investigation, determines that the conditions,\nincluding any additional bond amount specified by the commissioner\nunder KRS 286.13 -050, are necessary for the applicant or licensee to\nsatisfy the requirements of paragraph (a)1. and 2. of this subsection.\n2. A notice of intent issued under subparagraph 1. of this paragraph shall\nspecify the additional conditions that are required for the applicant or\nlicensee to engage in the proposed activity.\n3. The commissioner may issu e a conditional approval to an applicant or\nlicensee to engage in virtual currency kiosk business at the location, or\nthrough the agent, in this state if the applicant or licensee files a written\nacceptance of the conditions specified in the notice issued under\nsubparagraph 1. of this paragraph to the applicant or licensee within\nthirty (30) days after service of the notice.\n4. If the department does not receive an applicant's or a licensee's written\nacceptance of the conditions specified in the notice issu ed under\nsubparagraph 1. of this paragraph to the applicant or licensee within\nthirty (30) days after service of the notice, the commissioner shall issue\na notice of intent to deny the applicant's or licensee's application for\napproval to engage in the proposed activity; or\n(c) 1. Except as provided in paragraph (b) of this subsection, the\ncommissioner shall issue a notice of intent to deny the applicant's or\nlicensee's application to engage in virtual currency kiosk business at the\nlocation, or through the  agent, in this state if, after investigation, the\ncommissioner determines that:\na. For a proposed agent, denial is warranted under KRS 286.13 -130;\nor\nb. The requirements of paragraph (a)1. and 2. of this subsection are\nnot satisfied.\n2. A notice of intent  to deny an applicant's or licensee's application to\nengage in virtual currency kiosk business at a location, or through an\nagent, shall specify the reasons for the determination.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58284","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:16Z","sha256":"54e04fcbf113f0c6a97d276b95fe8fa654fc17876095bc0615a01ed51decbeb0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.13-040","next":"us-ky/krs-286.13-050"},"notice":"GroundRules: Original legal text. Not legal advice."}