{"data":{"id":"us-ky/krs-286.4-495","jurisdiction":"us-ky","citation":"KRS 286.4-495","heading":"Emergency orders -- Grounds -- Hearing -- Duration of emergency","body":"order.\n(1) The commissioner may enter an emergency order suspending, conditioning,\nlimiting, or restricting a license issued under this subtitle without notice or hearing\nif, after a thorough investigation and written findings, it appears upon grounds\nsatisfactory to the commissioner that the licensee has engaged or is engaging in\nunsafe, unsound, or illegal practices that pose an imminent threat to the public\ninterest.\n(2) The commissioner may enter an emergency cease -and-desist order against an\nunlicensed person  if, after a thorough investigation, it appears upon grounds\nsatisfactory to the commissioner that the unlicensed person has engaged or is\nengaging in unsafe or unsound practices, or actions contrary to this subtitle, that\npose an imminent threat to the public interest.\n(3) One (1) or more of the following circumstances shall be considered sufficient\ngrounds for an emergency order under this section if it appears on grounds\nsatisfactory to the commissioner that:\n(a) The licensee has willfully failed to comp ly with more than one (1) of the\nrequirements of this subtitle;\n(b) The licensee is in such financial condition that it cannot continue in business\nwith safety to its customers;\n(c) The licensee, or a person in control of the licensee, has been found guilt y of\nany act involving fraud, deception, theft, or breach of trust, or is the subject of\nan active administrative cease -and-desist order or similar order, or of a\npermanent or temporary injunction currently in effect entered by any court or\nagency of competent jurisdiction;\n(d) The licensee has made a misrepresentation of material fact to, or concealed an\nessential or material fact from, a person in the course of doing business, or has\nengaged in a course of business that has worked or tended to work a frau d or\ndeceit upon a person or would so operate;\n(e) The licensee has refused to permit a lawful examination or investigation, or\nhas refused or failed, within a reasonable time, to furnish any information or\nmake any report that may have been requested or r equired by the\ncommissioner in connection with a lawful investigation or examination; or\n(f) The licensee has had any license, registration, or claim of exemption related to\nthe financial services industry denied, suspended, or revoked under the laws of\nthis state, or has surrendered or terminated any license, registration, or claim\nof exemption issued by this state under threat of administrative action.\n(4) An emergency order issued under this section, compliant with KRS 13B.125,\nbecomes effective when served by the commissioner. The emergency order shall be\ndelivered by personal service or certified mail to the last known address of every\naffected party.\n(5) A person aggrieved by an emergency order issued by the commissioner under this\nsection may request an emergency hearing. The request for hearing shall be filed\nwith the commissioner within twenty (20) days of service of the emergency order.\n(6) Upon receipt of a timely written request for an emergency hearing, an emergency\nhearing shall be conducted as set forth in KRS 13B.125.\n(7) An emergency order issued under this section shall remain in effect until it is\nstayed, withdrawn, or superseded by an order of the commissioner or until it is\nterminated by a court order.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48952","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:11Z","sha256":"10a1433b3b939183286924b0aca7f591f033a08f3ac94e71f0cdcf37c4d7c652","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.4-490","next":"us-ky/krs-286.4-500"},"notice":"GroundRules: Original legal text. Not legal advice."}