{"data":{"id":"us-ky/krs-286.9-070","jurisdiction":"us-ky","citation":"KRS 286.9-070","heading":"Investigation by department -- Issuance of license -- Posting of license --","body":"License period -- Licensee's duty to notify department -- Transfer or\nassignment of license -- Abandonment.\n(1) Upon the filing of a completed application in a form prescrib ed by the\ncommissioner, accompanied by the fee and documents required in KRS 286.9 -060,\nthe commissioner shall investigate to ascertain whether the qualifications prescribed\nby KRS 286.9 -040 have been satisfied. If the commissioner finds that the\nqualifications have been satisfied, and if the commissioner approves the documents,\nhe or she shall issue to the applicant a license to engage in the business of cashing\nchecks or deferred deposit transactions in this Commonwealth.\n(2) The license shall be kept con spicuously posted in the place of business of the\nlicensee.\n(3) A license issued under this section shall remain in force and effect through the\nremainder of the fiscal year ended June 30 following its date of issuance, unless\nsurrendered, suspended, or re voked under this subtitle. A license issued under this\nsubtitle shall expire by June 30 following the date of its issuance unless renewed by\nthe filing of a completed renewal application and payment of the required fees with\nthe commissioner.\n(4) A license e shall notify the commissioner in writing at least fifteen (15) business\ndays before any change in the licensee's business location or name.\n(5) A licensee shall file a written request for a change of control of that licensee with\nthe commissioner at leas t fifteen (15) business days prior to any change of control\nof the licensee. The commissioner may require additional information considered\nnecessary to determine whether a new application for a license is required. The\nperson who requests the approval for a change of control shall pay the cost incurred\nby the commissioner in investigating the change of control request.\n(6) A license issued under this subtitle shall be transferable or assignable in cases of\nownership changes of the business or to facilitate  the transfer or assignment of a\nlicense if the licensee is closing an alternate office location, subject to approval of\nthe commissioner and based on existing criteria of new applicant approvals in\naccordance with this section.\n(7) The commissioner may de em an application or renewal application abandoned\nwhen the application received is incomplete and the applicant fails to provide any\nrequired information or fee under this subtitle or fails to respond to a request by the\ncommissioner for further information.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14905","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:14Z","sha256":"8714bde3c002d6986a205d54b33cbe74ab1f7404820f2bf262ba920a74f4fc24","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.9-060","next":"us-ky/krs-286.9-071"},"notice":"GroundRules: Original legal text. Not legal advice."}