16a-2-303.   (UCCC) Denial, revocation or suspensionof license; disciplinary proceedings.(1) The administrator maydeny, revoke orsuspend the license of a supervised lender if the administrator findsthat:

      (a)   The applicant or licensee has repeatedly orwillfully violated the provisions ofK.S.A. 16a-1-101 through 16a-9-102 and amendments thereto or any rule andregulation, order or administrative interpretationlawfully made pursuant to such sections of this act;

      (b)   the applicant or licensee has failed to file and maintain the suretybond or net worth required in K.S.A. 16a-2-302,and amendmentsthereto;

      (c)   the applicant or licensee is insolvent;

      (d)   the applicant or licensee has filed with the administrator any documentor statement falsely representing or omitting a material fact;

      (e)   the applicant, licensee, members thereof if a copartnership orassociation, or officers and directors thereof if a corporationhavebeenconvicted of a felony crime or any crime involving fraud,dishonesty or deceit or the applicant or licensee knowingly orrepeatedly contracts with or employs persons to directly engage in lendingactivities who have been convicted of a felony crime or any crime involvingfraud,dishonesty or deceit;

      (f)   the applicant or licensee fails to keep and maintain sufficient recordsto permit an audit satisfactorily disclosing to the administrator the applicantor licensee's compliance with the provision of this act;

      (g)   the applicant or licensee has been the subject of anydisciplinary actionby this or any other state or federal agency;

      (h)   a final judgment has been entered against the applicant or licensee in acivil action and the administrator finds the conduct on which the judgment isbased indicates that it would be contrary to the public interest to permit suchperson to be licensed;

      (i)   the applicant or licensee has engaged in deceptive business practices; or

      (j)   facts or conditions exist which would clearly have justified theadministrator in refusing to grant a license had these facts orconditions been known to exist at the time the application for thelicense was made.

      (2)   Any person holding a license to make supervised loans maysurrenderthe license by notifying the administrator in writing of itssurrender, but thissurrender shall not affect such person'sliability for acts previously committed.

      (3)   No revocation, suspension, or relinquishment of alicense shallimpair or affect the obligation of any preexisting lawful contractbetween the licensee and any debtor.

      (4)   None of the following actions shall deprive the administrator of anyjurisdiction orright to institute or proceed with any disciplinary proceeding against suchlicensee, to render adecision suspending, revoking or refusing to renew such license, or toestablish and make arecord of the facts of any violation of law for any lawful purpose:

      (a)   The imposition of an administrative penalty under this section;

      (b)   the lapse or suspension of any license issued under this act by operationof law;

      (c)   the licensee's failure to renew any license issued under this act; or

      (d)   the licensee's voluntary surrender of any license issued under thisact.

      (5)   The administrator may reinstate a license, terminate asuspension, or grant a new license to a person whose license has beenrevoked or suspended if no fact or condition then exists which clearlywould have justified the administrator in refusing to grant a license.

      History:   L. 1973, ch. 85, § 20; L. 1988, ch. 356, § 47;L. 1999, ch. 107, § 13;L. 2005, ch. 144, § 10;L. 2009, ch. 29, § 18; July 1.