{"data":{"id":"us-ky/krs-286.8-048","jurisdiction":"us-ky","citation":"KRS 286.8-048","heading":"Emergency orders by commissioner -- Grounds -- Hearing -- Period","body":"order to remain in effect.\n(1) The commissioner may enter an emergency order suspending, limiting, or\nrestricting the license, claim of exemption, or registration of any mortgage loa n\nbroker, mortgage loan company, or mortgage loan originator without notice or\nhearing if it appears upon grounds satisfactory to the commissioner that the\nmortgage loan broker, mortgage loan company, or mortgage loan originator has\nengaged or is engaging in unsafe, unsound, and illegal practices that pose an\nimminent threat to the public interest.\n(2) 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 mortgage loan broker, mortgage loan company, or mortgage loan\noriginator does not meet or has failed to comply with more than one (1) of the\nrequirements of this subtitle and the violations appear to be willful;\n(b) The mortgage loan broker or mortgage loan company is in such financial\ncondition that it cannot continue in business with safety to its customers;\n(c) The mortgage loan broker, mortgage loan company, or mortgage loan\noriginator has been indicted, charge d with, or found guilty of any act\ninvolving fraud, deception, theft, or breach of trust, or is the subject of an\nadministrative cease -and-desist order or similar order, or of a permanent or\ntemporary injunction currently in effect entered by any court or agency of\ncompetent jurisdiction;\n(d) The mortgage loan broker, mortgage loan company, or mortgage loan\noriginator has made any misrepresentations or false statements to, or\nconcealed any essential or material fact from, any person in the course of\ndoing business in the mortgage lending process, or has engaged in any course\nof business that has worked or tended to work a fraud or deceit upon any\nperson or would so operate;\n(e) The mortgage loan broker, mortgage loan company, or mortgage loan\noriginator has made or caused to be made to the commissioner any false\nrepresentation of material fact, has refused to permit an examination, or has\nrefused or failed, within a reasonable time, to furnish any information or make\nany report that may have been requested or required by the commissioner;\n(f) The mortgage loan broker, mortgage loan company, or mortgage loan\noriginator 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 any other state of the United States, or has surrendered or\nterminated any license, registration, or claim of exemption issued by this state\nor any other jurisdiction under threat of administrative action; or\n(g) The surety bond required under KRS 286.8-060 has terminated, expired, or no\nlonger remains in effect.\n(3) An emergency order issued under this section becomes effective when signed by the\ncommissioner. The emergency order shall be delivered by personal delivery or\ncertified mail t o the last known address of the party or parties. The order shall be\ndeemed served upon delivery or upon return of the order.\n(4) A party aggrieved by an emergency order issued by the commissioner under this\nsection may request an emergency hearing. The re quest for hearing shall be filed\nwith the commissioner within twenty (20) days of service of the emergency order.\n(5) Upon receipt of a written request for emergency hearing, the commissioner shall\nconduct an emergency hearing as required under KRS 13B.125 , within ten (10)\nworking days from the date of receipt of the request for hearing, unless the parties\nagree otherwise.\n(6) An emergency order issued under this section shall remain in effect until it is\nwithdrawn or superseded by an order of the commissio ner or until it is terminated\nby a court order.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=45378","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:14Z","sha256":"1bcf1b3808cece3e2c9211e125be1831fc5319203397c595022cdf18a841299b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.8-046","next":"us-ky/krs-286.8-060"},"notice":"GroundRules: Original legal text. Not legal advice."}