9-2202. Exempt from licensure.
9-2202
9-2202. Exempt from licensure.
The following are exempt from the licensing
requirements of
this act:
(a) Any bank, savings bank, trust company,
savings and
loan association, building and loan association, industrial loan
company or credit union organized, chartered or authorized under the laws
of the
United States or of any state which is authorized to make loans and to
receive deposits;
(b) any entity directly or indirectly regulated by an agency of the United
States or of any state which is a subsidiary
of any entity listed in
subsection (a) if 25% or more of such entity's common stock is directly
owned by
any entity listed in subsection (a);
(c) any person who
is licensed as a supervised
lender
pursuant to K.S.A. 16a-2-301 et seq., and amendments thereto;
(d) the United States of America, the state of Kansas, any
other state, or
any agency or instrumentality of any governmental entity; and
(e) any individual who with their own funds for their own investment makes
a purchase money mortgage or finances the sale of their own property, except
that any individual who enters into more than five such
investments or sales in any
twelve-month period shall be subject to all provisions of this act.
History: L. 1996, ch. 175, § 2;
L. 1999, ch. 45, § 2;
L. 2001, ch. 88, § 3;
L. 2009, ch. 29, § 5; July 1.