9-2202.   Exempt from licensure.The following are exempt from the licensingrequirements ofthis act:

      (a)   Any bank, savings bank, trust company,savings andloan association, building and loan association, industrial loancompany or credit union organized, chartered or authorized under the lawsof theUnited States or of any state which is authorized to make loans and toreceive deposits;

      (b)   any entity directly or indirectly regulated by an agency of the UnitedStates or of any state which is a subsidiaryof any entity listed insubsection (a) if 25% or more of such entity's common stock is directlyowned byany entity listed in subsection (a);

      (c)   any person whois licensed as a supervisedlenderpursuant to K.S.A. 16a-2-301 et seq., and amendments thereto;

      (d)   the United States of America, the state of Kansas, anyother state, orany agency or instrumentality of any governmental entity; and

      (e)   any individual who with their own funds for their own investment makesa purchase money mortgage or finances the sale of their own property, exceptthat any individual who enters into more than five suchinvestments or sales in anytwelve-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.