{"data":{"id":"us-ky/krs-286.9-125","jurisdiction":"us-ky","citation":"KRS 286.9-125","heading":"Emergency order suspending, conditioning, limiting, or restricting a","body":"license.\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 it a ppears upon grounds satisfactory to the commissioner that the licensee has\nengaged or is engaging in unsafe, unsound, or illegal practices that pose an\nimminent threat to the public interest.\n(2) One (1) or more of the following circumstances shall be cons idered sufficient\ngrounds for an emergency order under this section if it appears on grounds\nsatisfactory to the commissioner that:\n(a) The licensee does not meet or has failed to comply with more than one (1) of\nthe requirements of this subtitle and the violations appear to be willful;\n(b) The licensee is in such financial condition that it cannot continue in business\nwith safety to its customers;\n(c) The licensee has been indicted, charged 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 licensee has made any misr epresentations or false statements to, or\nconcealed any essential or material fact from, any person in the course of\ndoing business, or has engaged in any course of business that has worked or\ntended to work a fraud or deceit upon any person or would so operate;\n(e) The licensee has refused to permit an examination, or has refused or failed,\nwithin a reasonable time, to furnish any information or make any report that\nmay have been requested or required by the commissioner in connection with\nan investigation or examination;\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 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 deposit required under KRS 286.9 -040(1) has terminated, expired, or\notherwise no longer 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 to the last known address of the person. The order shall be deemed\nserved 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 request 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 an 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 h earing, unless the parties\nagree otherwise.\n(6) 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=14919","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:15Z","sha256":"bd33cb5643738730835fef300f8568ecab2581a23b2d6924d163bedc671023e1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.9-120","next":"us-ky/krs-286.9-128"},"notice":"GroundRules: Original legal text. Not legal advice."}