16a-6-105.   (UCCC) Administrative powers with respectto supervised financialorganizations.(1) With respect to supervised financial organizations, the powers ofexamination and investigation (K.S.A. 16a-2-305 and K.S.A. 16a-6-106, andamendments thereto) andadministrative enforcement (K.S.A. 16a-6-108, andamendments thereto) shall be exercised by theofficial or agency to whose supervision the organization is subject. Shoulda supervised financial organization become licensed hereunder, a reportof that portion of each examination made by the supervisory official oragency of such organization relating to compliance with the provisions ofchapter 16a of the Kansas Statutes Annotated shall be filed with theadministrator. Allother powers of the administrator under this act may be exercised bythe administratorwith respect to a supervised financial organization except thatcompliance with truth in lending shall be governed as set forth in subsection(2) of K.S.A. 16a-6-104, and amendmentsthereto.

      (2)   If the administrator receives a complaint or other informationconcerning noncompliance with this act by a supervised financialorganization, the administrator shall inform the official or agency havingsupervisoryauthority over the organization concerned. The administrator may requestinformation about supervised financial organizations from the officialsor agencies supervising them. If such officials or agencies have causeto believe the licensee of any supervised financial organization subjectto their supervision is subject to suspension or revocation for any reasonstated in K.S.A. 16a-2-303, andamendments thereto, such official oragency shall notify the administrator and assist the administrator in theenforcement of this act.

      (3)   The administrator and any official or agency of this statehaving supervisory authority over a supervised financial organizationare authorized and directed to consult and assist one another inmaintaining compliance with the provisions of K.S.A. 16a-1-101 through16a-9-102,and amendments thereto. They may jointly pursueinvestigations, prosecute suits, and take other official action, as theydeem appropriate, if either of them otherwise is empowered to take theaction.

      History:   L. 1973, ch. 85, § 98; L. 1980, ch. 76, § 10;L. 1992, ch. 46, § 3;L. 1999, ch. 107, § 29; July 1.