Kentucky Statutes 286.8-100 – Branch offices
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(1) No licensee shall establish or maintain a branch transacting business in Kentucky, either directly or indirectly, without:
(a) Filing the application as described in KRS § 286.8-032(5); and
(b) Receiving prior written approval of the commissioner.
(2) Each application for approval of the establishment and maintenance of a branch shall state:
(a) The physical address of the proposed location; (b) The functions to be performed; and
(c) Other information the commissioner may require if different from that contained in the original application for a license or registration.
(3) Each application under this section shall be sworn to by the applicant.
(4) Upon the receipt of an application, if the commissioner finds that the applicant is otherwise in compliance with the provisions of this subtitle, the commissioner shall approve the application.
(5) The commissioner may deem an application abandoned and subject to KRS § 286.8-
090 when:
(a) The application is received incomplete; and
(b) The applicant fails to:
1. Provide any required information under this subtitle; or
2. Respond to a request by the commissioner for further information.
Effective: July 14, 2022
History: Amended 2022 Ky. Acts ch. 125, sec. 7, effective July 14, 2022. — Amended
2010 Ky. Acts ch. 24, sec. 776, effective July 15, 2010. — Amended 2009 Ky. Acts ch. 104, sec. 10, effective June 25, 2009. — Amended 2008 Ky. Acts ch. 175, sec. 10, effective April 24, 2008. — Amended 1998 Ky. Acts ch. 197, sec. 10, effective July
15, 1998. — Amended 1992 Ky. Acts ch. 77, sec. 8, effective July 14, 1992. — Amended 1986 Ky. Acts ch. 461, sec. 12, effective July 15, 1986. — Created 1980
Ky. Acts ch. 365, sec. 11, effective July 15, 1980.
Formerly codified as KRS § 294.100.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.
(a) Filing the application as described in KRS § 286.8-032(5); and
Terms Used In Kentucky Statutes 286.8-100
- Commissioner: means the commissioner of the Department of Financial
Institutions. See Kentucky Statutes 286.1-010 - Licensee: means a person to whom a license has been issued. See Kentucky Statutes 286.8-010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
- Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
- transacting business in Kentucky: means to participate in any meaningful way in the mortgage lending process, including the servicing of mortgage loans, with respect to any residential real property located in Kentucky. See Kentucky Statutes 286.8-010
(b) Receiving prior written approval of the commissioner.
(2) Each application for approval of the establishment and maintenance of a branch shall state:
(a) The physical address of the proposed location; (b) The functions to be performed; and
(c) Other information the commissioner may require if different from that contained in the original application for a license or registration.
(3) Each application under this section shall be sworn to by the applicant.
(4) Upon the receipt of an application, if the commissioner finds that the applicant is otherwise in compliance with the provisions of this subtitle, the commissioner shall approve the application.
(5) The commissioner may deem an application abandoned and subject to KRS § 286.8-
090 when:
(a) The application is received incomplete; and
(b) The applicant fails to:
1. Provide any required information under this subtitle; or
2. Respond to a request by the commissioner for further information.
Effective: July 14, 2022
History: Amended 2022 Ky. Acts ch. 125, sec. 7, effective July 14, 2022. — Amended
2010 Ky. Acts ch. 24, sec. 776, effective July 15, 2010. — Amended 2009 Ky. Acts ch. 104, sec. 10, effective June 25, 2009. — Amended 2008 Ky. Acts ch. 175, sec. 10, effective April 24, 2008. — Amended 1998 Ky. Acts ch. 197, sec. 10, effective July
15, 1998. — Amended 1992 Ky. Acts ch. 77, sec. 8, effective July 14, 1992. — Amended 1986 Ky. Acts ch. 461, sec. 12, effective July 15, 1986. — Created 1980
Ky. Acts ch. 365, sec. 11, effective July 15, 1980.
Formerly codified as KRS § 294.100.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.