reglab/housing_qa huggingface dataset:
KS Stat § 9-2203 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2203 License required to conduct mortgage business; registration required for a loan originator; penalty; statute of limitations for prosecution.

9-2203. License required to conduct mortgage business; registration required for a loan originator; penalty; statute of limitations for prosecution. (a) Mortgage business shall only be conducted in this state at or from a mortgage company licensed by the commissioner as required by this act. A licensee shall be responsible for all mortgage business conducted on their behalf by loan originators or other employees.(b) Mortgage business involving loan origination shall only be conducted in this state by an individual who has first been registered with the commissioner as a loan originator as required by this act and maintains a valid unique identifier issued by the nationwide mortgage licensing system and registry, if operational at the time of registration.(c) Loan origination shall only be conducted at or from a mortgage company and a registrant shall only engage in mortgage business on behalf of one mortgage company.(d) Nothing under this act shall require a licensee to obtain any other license under any other act for the sole purpose of conducting non-depository mortgage business.(e) Any person who willfully or knowingly violates any of the provisions of this act, any rule and regulation adopted or order issued under this act commits a severity level 7 nonperson felony. A second or subsequent conviction of this act, regardless of its location on the sentencing grid block, shall have a presumptive sentence of imprisonment.(f) No prosecution for any crime under this act may be commenced more than five years after the alleged violation. A prosecution is commenced when a complaint or information is filed, or an indictment returned, and a warrant thereon is delivered to the sheriff or other officer for execution, except that no prosecution shall be deemed to have been commenced if the warrant so issued is not executed without unreasonable delay.(g) Nothing in this act limits the power of the state to punish any person for any conduct which constitutes a crime by statute.History: L. 1996, ch. 175, § 3; L. 1999, ch. 45, § 3; L. 2001, ch. 88, § 4; L. 2005, ch. 144, § 1; L. 2009, ch. 29, § 6; L. 2016, ch. 15, § 3; L. 2017, ch. 52, § 8; July 1.
KS Stat § 9-2205 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2205 License or registration; renewal.

9-2205. License or registration; renewal. (a) A license or registration shall become effective as of the date specified in writing by the commissioner.(b) A license shall be renewed annually by filing with the commissioner, at least 30 days prior to the expiration of the license, a renewal application, containing information the commissioner requires to determine the existence of material changes from the information contained in the applicant's original license application or prior renewal applications.(c) A registration shall be renewed annually by filing with the commissioner, at least 30 days prior to the expiration of the registration, a renewal application, containing information the commissioner requires to determine the existence of material changes from the information contained in the applicant's original registration application or prior renewal applications, including the completion of any continuing education requirements.(d) Each renewal application shall be accompanied by a nonrefundable fee which shall be established by rules and regulations pursuant to K.S.A. 9-2209, and amendments thereto.(e) Any renewal application received by the commissioner after the expiration date of the current license or registration shall be treated as an original application and shall be subject to all reporting and fee requirements contained in K.S.A. 9-2204, and amendments thereto.History: L. 1996, ch. 175, § 5; L. 1999, ch. 45, § 5; L. 2001, ch. 88, § 6; L. 2005, ch. 144, § 2; L. 2009, ch. 29, § 7; L. 2016, ch. 15, § 4; July 1.
KS Stat § 9-2206 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2206 Application denied; application abandoned; appeal.

9-2206. Application denied; application abandoned; appeal. (a) If the commissioner fails to issue a license or registration within 60 days or grant a renewal within 30 days after an application is deemed complete by the commissioner, the applicant may make written request for a hearing. The commissioner shall conduct a hearing in accordance with the Kansas administrative procedure act.(b) If an application is considered abandoned pursuant to K.S.A. 9-2204, and amendments thereto, an applicant may make written request for a hearing. The commissioner shall conduct a hearing in accordance with the Kansas administrative procedure act.History: L. 1996, ch. 175, § 6; L. 1999, ch. 45, § 6; L. 2001, ch. 88, § 7; L. 2016, ch. 15, § 5; L. 2017, ch. 52, § 10; July 1.
KS Stat § 9-2208 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2208 License; display; signed acknowledgment; contents; advertising or solicitation disclosure.

9-2208. License; display; signed acknowledgment; contents; advertising or solicitation disclosure. (a) Each licensee shall make available the evidence of licensure of each licensed location in a way that reasonably assures recognition by consumers and members of the general public.(b) Prior to entering into any contract for the provision of services or prior to the licensee receiving any compensation or promise of compensation for a mortgage loan the licensee shall acquire from the consumer a signed acknowledgment containing such information as the commissioner may prescribe by rule and regulation. The signed acknowledgment shall be retained by the licensee and a copy shall be provided to the consumer.(c) All solicitations and published advertisements concerning mortgage business directed at Kansas residents, including those on the internet or by other electronic means, shall contain the name and license number or unique identifier of the licensee on record with the commissioner. Each licensee shall maintain a record of all solicitations or advertisements for a period of 36 months. For the purpose of this subsection, "advertising" does not include business cards or promotional items.(d) No solicitation or advertisement shall contain false, misleading or deceptive information, or indicate or imply that the interest rates or charges stated are "recommended," "approved," "set" or "established" by the state of Kansas.(e) No licensee or registrant shall conduct mortgage business in this state using any name other than the name or names stated on their license or registration.History: L. 1996, ch. 175, § 8; L. 1999, ch. 45, § 8; L. 2000, ch. 17, § 3; L. 2001, ch. 88, § 9; L. 2005, ch. 144, § 3; L. 2016, ch. 15, § 6; July 1.
KS Stat § 9-2210 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2210 Fees; disposition.

9-2210. Fees; disposition. All fees collected by the commissioner pursuant to this act shall be subject to the provisions of K.S.A. 75-1308, and amendments thereto.History: L. 1996, ch. 175, § 10; April 25.
KS Stat § 9-2213 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2213 Time limit for deposit of escrow funds; records required.

9-2213. Time limit for deposit of escrow funds; records required. (a) Within three business days of receipt a licensee shall deposit all fees and money received from a borrower prior to the time a loan is consummated in an escrow account in a bank, savings bank, savings and loan association or credit union incorporated under the laws of this state, or organized under the laws of the United States or another state.(b) For each borrower the licensee shall maintain a separate record of all money received for any service performed or to be performed, including any payment to a third party, setting forth:(1) The date the money was received;(2) the amount of money received;(3) the date the money was deposited in the escrow account; and(4) the date, description, and justification for each disbursement.(c) Upon the request of a borrower, a copy of the record required by subsection (b) shall be provided to the borrower:(1) Within five business days of consummation of the loan; or(2) within five business days of receipt of written notice of the borrower's intention to withdraw from the loan transaction.History: L. 1999, ch. 45, § 12; L. 2000, ch. 17, § 6; L. 2001, ch. 88, § 13; November 1.
KS Stat § 9-2214 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2214 Ownership of documents.

9-2214. Ownership of documents. All original documents provided to the licensee by the borrower or at the expense of the borrower, including any appraisals, are the property of the borrower and at the borrower's request, shall be returned to the borrower without further expense if the loan is not consummated.History: L. 1999, ch. 45, § 13; L. 2001, ch. 88, § 14; November 1.
KS Stat § 9-2215 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2215 Change in licensee's business; notice.

9-2215. Change in licensee's business; notice. (a) A licensee shall provide written notice to the commissioner within 10 business days of the occurrence of any of the following events:(1) The closing or relocation of the principal place of business or any branch office;(2) a change in the licensee's name or legal entity status; or(3) the addition or loss of any loan originator, owner, officer, partner or director.(b) The commissioner may request additional information concerning any written notice received pursuant to subsection (a) and charge a reasonable fee for any action required by the commissioner as a result of such notice and additional information.History: L. 1999, ch. 45, § 14; L. 2001, ch. 88, § 15; November 1.
KS Stat § 9-2216a (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2216a Annual written report; penalty; information confidential.

9-2216a. Annual written report; penalty; information confidential. (a) Each licensee shall annually, on or before April 1, file a written report with the commissioner containing the information that the commissioner may reasonably require concerning the licensee's business and operations during the preceding calendar year. The report shall be made in the form prescribed by the commissioner, which may include reports filed with the nationwide mortgage licensing system and registry. Any licensee who fails to file the report required by this section with the commissioner by April 1 shall be subject to a late penalty of $100 for each day after April 1 the report is delinquent, but in no event shall the aggregate of late penalties exceed $5,000. The commissioner may relieve any licensee from the payment of any penalty, in whole or in part, for good cause. The filing of the annual written report required under this section shall satisfy any other reports required of a licensee under this act.(b) Information contained in the annual report shall be confidential and may be published only in composite form. The provisions of this subsection shall expire on July 1, 2022, unless the legislature reviews and reenacts this provision prior to July 1, 2022.History: L. 2001, ch. 88, § 1; L. 2009, ch. 29, § 13; L. 2016, ch. 15, § 11; L. 2017, ch. 52, § 12; July 1.
KS Stat § 9-2217 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2217 Confidentiality of examination reports; exceptions.

9-2217. Confidentiality of examination reports; exceptions. Examination reports and correspondence regarding the reports made by the commissioner or the commissioner's examiners are confidential, except that the commissioner may release examination reports and correspondence regarding the reports in connection with a disciplinary proceeding conducted by the commissioner, a liquidation proceeding or a criminal investigation or proceeding. Additionally, the commissioner may furnish to federal or other state regulatory agencies or any officer or examiner thereof, a copy of any or all examination reports and correspondence regarding the reports made by the commissioner or the commissioner's examiners.History: L. 1999, ch. 45, § 16; April 8.
KS Stat § 9-2218 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2218 Cease and desist orders; civil fines.

9-2218. Cease and desist orders; civil fines. (a) If the commissioner determines after notice and opportunity for a hearing pursuant to the Kansas administrative procedure act that any person has engaged, is engaging or is about to engage in any act or practice constituting a violation of any provision of this act or any rule and regulation or order hereunder, the commissioner by order may require any or all of the following:(1) That the person cease and desist from the unlawful act or practice;(2) that the person pay a fine not to exceed $10,000 per incident for the unlawful act or practice;(3) If any person is found to have violated any provision of this act, and such violation is committed against elder or disabled persons, as defined in K.S.A. 50-676, and amendments thereto, in addition to any civil penalty otherwise provided by law, the commissioner may impose an additional penalty not to exceed $10,000 for each such violation;(4) censure the person if the person is registered or licensed under this act;(5) bar or suspend the person from applying for a license or registration under this act, or associating with a mortgage business or supervised lender licensed in this state;(6) issue an order requiring the person to pay restitution for any loss arising from the violation or requiring the person to disgorge any profits arising from the violation. Such order may include the assessment of interest not to exceed 8% per annum from the date of the violation; or(7) that the person take such affirmative action as in the judgment of the commissioner will carry out the purposes of this act.(b) If the commissioner makes written findings of fact that the public interest will be irreparably harmed by delay in issuing an order under subsection (a), the commissioner may issue an emergency cease and desist order.(1) Such emergency order, even when not an order within the meaning of K.S.A. 77-502, and amendments thereto, shall be subject to the same procedures as an emergency order issued under K.S.A. 77-536, and amendments thereto.(2) Upon the entry of such an emergency order, the commissioner shall promptly notify the person subject to the order that it has been entered, of the reasons, and that a hearing will be held upon written request by the person.(3) If the person requests a hearing, or in the absence of any request, if the commissioner determines that a hearing should be held, the matter will be set for a hearing which shall be conducted in accordance with the provisions of the Kansas administrative procedure act. Upon completion of the hearing the commissioner shall by written findings of fact and conclusions of law vacate, modify or make permanent the emergency order.(4) If no hearing is requested and none is ordered by the commissioner, the emergency order will remain in effect until it is modified or vacated by the commissioner.History: L. 1999, ch. 45, § 17; L. 2000, ch. 17, § 7; L. 2005, ch. 144, § 7; July 1.
KS Stat § 9-2219 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2219 Injunction.

9-2219. Injunction. Whenever it appears to the commissioner that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this act or any rule and regulation or order hereunder, the commissioner may bring an action in any court of competent jurisdiction to enjoin the acts or practices and to enforce compliance with this act or any rule and regulation or order hereunder. Upon a proper showing, a permanent or temporary injunction, restraining order, restitution, writ of mandamus or other equitable relief shall be granted and a receiver or conservator may be appointed for the defendant or the defendant's assets. The commissioner shall not be required to post a bond.History: L. 1999, ch. 45, § 18; April 8.
KS Stat § 9-2220 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 22 - Mortgage Business|9-2220 Citation of act; severability.

9-2220. Citation of act; severability. (a) The provisions of K.S.A. 9-2201 through 9-2220, and amendments thereto, and K.S.A. 9-2216a, and amendments thereto, shall be known and may be cited as the Kansas mortgage business act.(b) If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected.History: L. 1999, ch. 45, § 19; L. 2001, ch. 88, § 17; L. 2009, ch. 29, § 14; July 1.
KS Stat § 9-2304 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2304 Provisions of state banking code applicable; exceptions; conflict of law.

9-2304. Provisions of state banking code applicable; exceptions; conflict of law. (a) To the extent a conflict does not exist between this act and chapter 9 of the Kansas Statutes Annotated, and amendments thereto, the provisions of chapter 9 of the Kansas Statutes Annotated, and amendments thereto, shall apply to a fiduciary financial institution in the same manner as it applies to a trust company except that references in chapter 9 to:(1) "Capital stock" includes membership capital and partner capital;(2) "stock" includes membership units and partnership interests;(3) "common stock" includes common units and common interests;(4) "preferred stock" includes preferred units and preferred interests;(5) "stockholders" includes members and partners;(6) "articles of incorporation" includes articles of organization and articles of limited partnership;(7) "incorporation" includes organization;(8) "corporation" includes company and partnership;(9) "corporate" includes company and partnership;(10) "trust business" and "business of a trust company" includes fidfin and fiduciary financial institution business; and(11) K.S.A. 9-901a(a), and amendments thereto, means K.S.A. 2021 Supp. 9-2305, and amendments thereto.(b) If any conflict exists between any provisions of chapter 9 of the Kansas Statutes Annotated, and amendments thereto, and this act, the provisions of this act shall control.History: L. 2021, ch. 80, § 4; July 1.
KS Stat § 9-2305 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2305 Capitalization requirements.

9-2305. Capitalization requirements. (a) For purposes of this section, "capital" means the total of the aggregate par value of a fiduciary financial institution's outstanding membership units, its surplus and its undivided profits.(b) (1) The required capital for fiduciary financial institutions shall at all times be $250,000 when:(A) The fiduciary financial institution does not accept deposits, other than alternative asset custody accounts;(B) the fiduciary financial institution maintains no third-party debt except debts owed to the members of the fiduciary financial institution or affiliates of the fiduciary financial institution; and(C) the fiduciary financial institution has secured an agreement from its members whereby such members agree to contribute additional capital to the fiduciary financial institution if needed to ensure the safety and soundness of the fiduciary financial institution. A fiduciary financial institution that fails to satisfy the foregoing requirements shall be subject to the capitalization requirements of K.S.A. 9-901a, and amendments thereto, applicable to trust companies.(2) The capital of a fiduciary financial institution shall be divided, with 60% of the amount as the aggregate par value of outstanding membership units, 30% as surplus and 10% as undivided profits.History: L. 2021, ch. 80, § 5; July 1.
KS Stat § 9-2307 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2307 Report to commissioner; safety and soundness.

9-2307. Report to commissioner; safety and soundness. (a) A fiduciary financial institution shall make a report to the commissioner pursuant to the provisions of K.S.A. 9-1704, and amendments thereto. In making such a report, a fiduciary financial institution shall:(1) Report the fiduciary financial institution's fidfin transactions pursuant to generally accepted accounting principles; and(2) calculate such fiduciary financial institution's capital solvency by including the value of all tangible and intangible assets owned by the fiduciary financial institution, regardless of use.(b) In evaluating the safety and soundness of a fiduciary financial institution, the state banking board and the commissioner shall:(1) Consider that the collateral or underlying assets associated with fidfin transactions are volatile in nature and that such volatility has been accepted by the members and customers of the fiduciary financial institution;(2) respect the form, treatment and character of fidfin transactions under the laws of this state notwithstanding the treatment or characterization of such transactions under generally accepted accounting principles or for tax purposes;(3) evaluate the soundness of a fiduciary financial institution based on whether available capital, including the agreement of the fiduciary financial institution's members to contribute capital pursuant to K.S.A. 2021 Supp. 9-2305, and amendments thereto, exceeds the fiduciary financial institution's obligations, determined in accordance with generally accepted accounting principles; and(4) evaluate the safety of a fiduciary financial institution based on the background and qualifications of such fiduciary financial institution's executive officers and directors and the internal controls and audit processes enacted by the fiduciary financial institution to ensure adherence to its policies and procedures.(c) Profitability shall not be a consideration in evaluating the safety and soundness of a fiduciary financial institution if sufficient capital and equity exist in the business, including, without limitation, membership capital, surplus, undivided profits and commitments by members to contribute additional capital to the fiduciary financial institution pursuant to K.S.A. 2021 Supp. 9-2305, and amendments thereto, to satisfy the fiduciary financial institution's obligations.History: L. 2021, ch. 80, § 7; July 1.