{"data":{"id":"us-ky/krs-286.13-110","jurisdiction":"us-ky","citation":"KRS 286.13-110","heading":"Written complaint -- Investigation -- Routine examination -- Powers of","body":"commissioner -- Licensee deemed to consent to investigation -- Examination-\nrelated information.  (Effective April 30, 2027)\n(1) Any person may file a written complaint with the commissioner relating to:\n(a) Virtual currency kiosk business in this state; or\n(b) The conduct of any person engaged or participating in virtual currency kiosk\nbusiness in this state.\n(2) The commissioner may conduct an investigation, upon complaint or otherwise, of\nany virtual currency kiosk operator or other person within or outside this state that\nhe or she deems necessary to:\n(a) Discover violations of this subtitle, including violations of any administrative\nregulation promulgated, or order issued, under this subtitle; or\n(b) Secure information necessary for the proper enforcement of this subtitle.\n(3) (a) The commissioner may conduct routine examinations of the virtual currency\nkiosk affairs, business, offices, books, accounts, and records of lic ensees and\nagents of licensees.\n(b) A licensee shall pay a reasonable fee sufficient to cover the cost of each\nroutine examination based upon fair compensation for time and actual\nexpenses.\n(c) Upon written notice of the amount assessed under paragraph (b) of this\nsubsection, the licensee shall become liable for and pay the assessment to the\ndepartment.\n(4) To the extent necessary to conduct any investigation or examination authorized\nunder this section, the commissioner may:\n(a) Compel the attendance of any person or obtain any books, accounts, or\nrecords by subpoenas;\n(b) Administer oaths and affirmations;\n(c) Examine under oath or affirmation all persons whose testimony he or she may\nrequire; and\n(d) To the extent permitted under federal law, access and review records and\nrelated information relating to compliance with federal anti -money laundering\nlaws, including suspicious activity reports filed pursuant to the Bank Secrecy\nAct, 31 U.S.C. sec. 5311 et seq., as amended.\n(5) As a condition of licensure under this subtitle, a licensee and its agents shall, by\noperation of law, be deemed to consent to any examination or investigation\nconducted under this section, whether or not prior notice is give n to the licensee or\nagent.\n(6) When conducting an investigation or examination, the commissioner may do any of\nthe following:\n(a) Conduct an on-site or off-site investigation or examination;\n(b) Participate in a joint or concurrent investigation or examin ation with one (1)\nor more states or federal agencies, including a multistate investigation or\nexamination; and\n(c) Accept and rely upon an investigation or examination report of one (1) or\nmore states or federal agencies, including a multistate investigat ion or\nexamination report.\n(7) (a) Except as provided in paragraph (b) of this subsection and KRS 286.13 -115, a\nroutine examination report, related correspondence, and examination -related\ninformation shall:\n1. Be considered confidential by law and privileged; and\n2. Not be subject to disclosure under KRS 61.870 to 61.884.\n(b) A licensee:\n1. May disclose a Kentucky routine examination report to a financial\ninstitution upon written request from the financial institution for the\npurpose of assisting the financ ial institution in its compliance with the\nBank Secrecy Act, 31 U.S.C. secs. 5311 to 5332 and 31 C.F.R. pt. 103;\nand\n2. Shall provide written notice to the commissioner of a disclosure made\nunder this paragraph at the same time that the disclosure is made.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58297","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:16Z","sha256":"8f0c0318f1345dd1acd7375da5170b4de3ae65d61ac707e9f2ce1841b0579071","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.13-105","next":"us-ky/krs-286.13-115"},"notice":"GroundRules: Original legal text. Not legal advice."}