UNOFFICIAL COPY 23 RS BR 1241
Page 1 of 1
XXXX 2/16/2023 11:23 AM Jacketed
AN ACT relating to financial institutions. 1
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2
ď˘Section 1. KRS 286.9-080 is amended to read as follows: 3
(1) Each license may be renewed for the ensuing twelve (12) month[months] period 4
upon the timely submission of a completed renewal application and payment to the 5
commissioner annually on or before December 31[June 20] of each year of the 6
following fees[a license fee of]: 7
(a) Five hundred dollars ($500) for the first location; and 8
(b) Five hundred dollars ($500) for each additional location. 9
(2) The commissioner may reinstate a license that has expired within thirty-one (31) 10
days of the expiration of the license if the licensee pays: 11
1. A late fee[ in the amount] of one hundred dollars ($100); and 12
2. A reinstatement fee of five hundred dollars ($500). 13
(3) A license shall not be reinstated when[where] the renewal application, fees, or any 14
required information is received [on or ]after January 31[August 1] of the 15
following year that the application was due. 16
(4) The commissioner may, by promulgation of an administrative regulation 17
pursuant to KRS Chapter 13A, modify the dates for submissions under this 18
section when necessary to: 19
(a) Implement uniform national licensing procedures; or 20
(a) Facilitate common practices and procedures among the states. 21