Kentucky Statutes 286.11-055 – Right of aggrieved person to file written complaint with commissioner — Commissioner’s power to investigate and resolve complaints — Suspension of license for noncompliance with subpoena — Petition to court for enfo…
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(1) Any person aggrieved by the conduct of a licensee or agent under this subtitle in connection with the licensee’s or agent’s regulated activities may file a written complaint with the commissioner, who may investigate the complaint.
(2) In the course of the investigation initiated by a complaint or by the commissioner, the commissioner may:
(a) Subpoena witnesses; (b) Administer oaths;
(c) Examine any individual under oath; and
(d) Compel the production of records, books, papers, contracts, or other documents relevant to the investigation.
(3) If any person fails to testify or to comply with a subpoena from the commissioner under this section, then the commissioner may petition the Franklin Circuit Court or any court of competent jurisdiction for enforcement.
(4) The license of any licensee or the designation of an agent under this subtitle who fails to comply with a subpoena of the commissioner may be suspended pending compliance with the subpoena.
(5) The commissioner may investigate all complaints filed by any person.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 856, effective July 15, 2010. — Created
2006 Ky. Acts ch. 247, sec. 28, effective April, 2006.
Legislative Research Commission Note (7/12/2006). This section was created in 2006
Ky. Acts ch. 247 as a new section of KRS Chapter 366A. Sec. 38 of that same bill also required that all sections of KRS Chapters 287, 288, 290, 291, 294, 366, 366A, and 368 be renumbered as sections of a single KRS chapter entitled the “Kentucky Financial Services Code.” Therefore, the Statute Reviser, acting under KRS § 7.136(1), has codified this section as a new section of KRS Chapter 286.
(2) In the course of the investigation initiated by a complaint or by the commissioner, the commissioner may:
Terms Used In Kentucky Statutes 286.11-055
- Agent: means a person authorized by written agreement and designated by the licensee to act on behalf of a licensee under the provisions of this subtitle. See Kentucky Statutes 286.11-003
- Commissioner: means the commissioner of the Department of Financial
Institutions. See Kentucky Statutes 286.1-010 - Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Licensee: means a person licensed under this subtitle. See Kentucky Statutes 286.11-003
- Oath: A promise to tell the truth.
- Person: means any individual, corporation, business trust, estate, trust, partnership, limited liability company, association, organization, joint venture, government and any subdivision, agency or instrumentality thereof, or any other legal or commercial
entity. See Kentucky Statutes 286.11-003 - Statute: A law passed by a legislature.
- Subpoena: A command to a witness to appear and give testimony.
- Testify: Answer questions in court.
(a) Subpoena witnesses; (b) Administer oaths;
(c) Examine any individual under oath; and
(d) Compel the production of records, books, papers, contracts, or other documents relevant to the investigation.
(3) If any person fails to testify or to comply with a subpoena from the commissioner under this section, then the commissioner may petition the Franklin Circuit Court or any court of competent jurisdiction for enforcement.
(4) The license of any licensee or the designation of an agent under this subtitle who fails to comply with a subpoena of the commissioner may be suspended pending compliance with the subpoena.
(5) The commissioner may investigate all complaints filed by any person.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 856, effective July 15, 2010. — Created
2006 Ky. Acts ch. 247, sec. 28, effective April, 2006.
Legislative Research Commission Note (7/12/2006). This section was created in 2006
Ky. Acts ch. 247 as a new section of KRS Chapter 366A. Sec. 38 of that same bill also required that all sections of KRS Chapters 287, 288, 290, 291, 294, 366, 366A, and 368 be renumbered as sections of a single KRS chapter entitled the “Kentucky Financial Services Code.” Therefore, the Statute Reviser, acting under KRS § 7.136(1), has codified this section as a new section of KRS Chapter 286.