{"data":{"id":"us-ky/krs-286.4-610","jurisdiction":"us-ky","citation":"KRS 286.4-610","heading":"Commissioner's power to issue administrative regulations and examine","body":"licensees -- Investigations -- Enforcement of subpoena -- Powers of\ncommissioner.\n(1) The provisions of this subtitle shall be enforced by the commissioner, who may\npromulgate administrative regulations in accordance with KRS Chapter 13A for the\nproper conduct of the business licensed under this subtitle. All regulations of\ngeneral application shall state the date of promulgation and the effective date. A\ncopy of every regula tion shall be sent to all licensees before the effective date\nthereof and a copy shall be kept in an indexed permanent book in the office of the\ncommissioner as a public record.\n(2) (a) The commissioner shall examine the affairs, business, office, and reco rds of\nevery licensee at least once during every twenty -four (24) month period, but\nnot more frequently than once during every twelve (12) month period. Every\nlicensee shall pay a reasonable fee sufficient to cover the cost of each routine\nexamination based upon fair compensation for time and actual expenses.\n(b) The commissioner may also conduct investigations of licensees or persons\nwithin or outside of the state as the commissioner deems necessary to discover\nviolations of this subtitle or to secure info rmation necessary for its proper\nenforcement.\n(c) For the purpose of making examinations or investigations under this section,\nthe commissioner and his or her representatives:\n1. May:\na. Compel the attendance of any person or obtain any documents by\nsubpoenas;\nb. Administer oaths and affirmations; and\nc. Examine under oath or affirmation all persons whose testimony he\nor she may require, relative to the loans or business of the licensee;\nand\n2. Shall have free access to the accounts, papers, records, files,  safes,\nvaults, offices, and places of business used in connection with any\nbusiness conducted under any license issued in accordance with this\nsubtitle.\n(3) (a) The commissioner may investigate any person who is or appears to be\nengaging in the business r egulated by this subtitle without first securing a\nlicense.\n(b) For the purpose of investigations of unlicensed persons, the commissioner or\nhis or her representative may:\n1. Compel the attendance of any person or obtain any documents by\nsubpoenas;\n2. Administer oaths and affirmations; and\n3. Examine under oath or affirmation all persons whose testimony he or\nshe may require, relative to the loans or business of the person.\n(4) If any person fails to comply with a subpoena issued by the commissioner under this\nsection, the commissioner may petition the Franklin Circuit Court or any court of\ncompetent jurisdiction for enforcement of the subpoena.\n(5) In order to carry out the purposes of this subtitle, the commissioner may:\n(a) Retain examiners, auditors,  investigators, attorneys, accountants, or other\nprofessionals and specialists to conduct or assist in the conduct of any\nexamination, investigation, or enforcement action; and\n(b) Use, hire, contract, or employ public or private analytical systems, methods, or\nsoftware.\n(6) The authority of this section shall remain in effect whether a person acts or claims\nto act under any licensing law of this subtitle or acts or claims to act without such\nauthority.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48946","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:11Z","sha256":"331c9561782bc54f733fd2ef849288a99e4dbaed9858287d4b64b3f6c9ca4b10","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.4-605","next":"us-ky/krs-286.4-613"},"notice":"GroundRules: Original legal text. Not legal advice."}