Article 2.--FINANCE CHARGES AND RELATED PROVISIONS
16a-2-303a.Denial, revocation or suspension of
registration of residential mortgage loan originator.
(1) The administrator may deny, revoke or suspend the
registration of a residential mortgage
loan originator if the administrator finds that:
(a) The applicant or registrant has repeatedly or willfully
violated the provisions of
K.S.A. 16a-1-101 through 16a-9-102, and amendments thereto, or any rule and
regulation,
order or administrative interpretation lawfully made pursuant to such sections
of this act;
(b) the applicant or registrant has filed with the administrator any document
or statement
falsely representing or omitting a material fact;
(c) the applicant or registrant has been convicted of any crime involving
fraud, dishonesty or
deceit, except that no registration shall be granted to any loan originator
who:
(i) Has had a mortgage loan originator license or registration revoked in any
governmental jurisdiction; or
(ii) has been convicted of, pled guilty or nolo contendere to, a felony in a
domestic,
foreign or military court:
(A) During the seven-year period preceding the date of the application for
licensing and
registration; or
(B) at any time preceding such date of application, if such felony involved
an act of
fraud, dishonesty, deceit, a breach of trust or money laundering;
(d) the applicant or registrant has been the subject of any disciplinary
action by this or any
other state or federal agency;
(e) a final judgment has been entered against the applicant or registrant in
a civil action
and the administrator finds the conduct on which the judgment is based
indicates that it
would be contrary to the public interest to permit such person to be
registered;
(f) the applicant or registrant has engaged in deceptive business practices;
(g) facts or conditions exist which would clearly have justified the
administrator in refusing to
grant a registration had these facts or conditions been known to exist at the
time the
application for the registration was made;
(h) the applicant or registrant has not completed all requirements for
registration or renewal,
including successfully passing a standardized examination and completing all
pre-licensing
or continuing education requirements;
(i) the administrator is unable to determine that the financial
responsibility, character and fitness
of the applicant or registrant are such as to warrant belief that the
applicant's or registrant's
residential mortgage loan origination activity will be operated honestly and
fairly within the
purposes of this act.
(2) None of the following actions shall deprive the administrator of any
jurisdiction or right to
institute or proceed with any disciplinary proceeding against such
registration, to render a
decision suspending, revoking or refusing to renew such registration, or to
establish and make
a record 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 registration issued under this act by
operation of law;
(c) the registrant's failure to renew any registration issued under this act;
or
(d) the registrant's voluntary surrender of any registration issued under
this act.
(3) This section shall be part of and supplemental to the uniform consumer
credit code.
Article 2.--FINANCE CHARGES AND RELATED PROVISIONS
16a-2-303a.Denial, revocation or suspension of
registration of residential mortgage loan originator.
(1) The administrator may deny, revoke or suspend the
registration of a residential mortgage
loan originator if the administrator finds that:
(a) The applicant or registrant has repeatedly or willfully
violated the provisions of
K.S.A. 16a-1-101 through 16a-9-102, and amendments thereto, or any rule and
regulation,
order or administrative interpretation lawfully made pursuant to such sections
of this act;
(b) the applicant or registrant has filed with the administrator any document
or statement
falsely representing or omitting a material fact;
(c) the applicant or registrant has been convicted of any crime involving
fraud, dishonesty or
deceit, except that no registration shall be granted to any loan originator
who:
(i) Has had a mortgage loan originator license or registration revoked in any
governmental jurisdiction; or
(ii) has been convicted of, pled guilty or nolo contendere to, a felony in a
domestic,
foreign or military court:
(A) During the seven-year period preceding the date of the application for
licensing and
registration; or
(B) at any time preceding such date of application, if such felony involved
an act of
fraud, dishonesty, deceit, a breach of trust or money laundering;
(d) the applicant or registrant has been the subject of any disciplinary
action by this or any
other state or federal agency;
(e) a final judgment has been entered against the applicant or registrant in
a civil action
and the administrator finds the conduct on which the judgment is based
indicates that it
would be contrary to the public interest to permit such person to be
registered;
(f) the applicant or registrant has engaged in deceptive business practices;
(g) facts or conditions exist which would clearly have justified the
administrator in refusing to
grant a registration had these facts or conditions been known to exist at the
time the
application for the registration was made;
(h) the applicant or registrant has not completed all requirements for
registration or renewal,
including successfully passing a standardized examination and completing all
pre-licensing
or continuing education requirements;
(i) the administrator is unable to determine that the financial
responsibility, character and fitness
of the applicant or registrant are such as to warrant belief that the
applicant's or registrant's
residential mortgage loan origination activity will be operated honestly and
fairly within the
purposes of this act.
(2) None of the following actions shall deprive the administrator of any
jurisdiction or right to
institute or proceed with any disciplinary proceeding against such
registration, to render a
decision suspending, revoking or refusing to renew such registration, or to
establish and make
a record 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 registration issued under this act by
operation of law;
(c) the registrant's failure to renew any registration issued under this act;
or
(d) the registrant's voluntary surrender of any registration issued under
this act.
(3) This section shall be part of and supplemental to the uniform consumer
credit code.
Article 2.--FINANCE CHARGES AND RELATED PROVISIONS
16a-2-303a.Denial, revocation or suspension of
registration of residential mortgage loan originator.
(1) The administrator may deny, revoke or suspend the
registration of a residential mortgage
loan originator if the administrator finds that:
(a) The applicant or registrant has repeatedly or willfully
violated the provisions of
K.S.A. 16a-1-101 through 16a-9-102, and amendments thereto, or any rule and
regulation,
order or administrative interpretation lawfully made pursuant to such sections
of this act;
(b) the applicant or registrant has filed with the administrator any document
or statement
falsely representing or omitting a material fact;
(c) the applicant or registrant has been convicted of any crime involving
fraud, dishonesty or
deceit, except that no registration shall be granted to any loan originator
who:
(i) Has had a mortgage loan originator license or registration revoked in any
governmental jurisdiction; or
(ii) has been convicted of, pled guilty or nolo contendere to, a felony in a
domestic,
foreign or military court:
(A) During the seven-year period preceding the date of the application for
licensing and
registration; or
(B) at any time preceding such date of application, if such felony involved
an act of
fraud, dishonesty, deceit, a breach of trust or money laundering;
(d) the applicant or registrant has been the subject of any disciplinary
action by this or any
other state or federal agency;
(e) a final judgment has been entered against the applicant or registrant in
a civil action
and the administrator finds the conduct on which the judgment is based
indicates that it
would be contrary to the public interest to permit such person to be
registered;
(f) the applicant or registrant has engaged in deceptive business practices;
(g) facts or conditions exist which would clearly have justified the
administrator in refusing to
grant a registration had these facts or conditions been known to exist at the
time the
application for the registration was made;
(h) the applicant or registrant has not completed all requirements for
registration or renewal,
including successfully passing a standardized examination and completing all
pre-licensing
or continuing education requirements;
(i) the administrator is unable to determine that the financial
responsibility, character and fitness
of the applicant or registrant are such as to warrant belief that the
applicant's or registrant's
residential mortgage loan origination activity will be operated honestly and
fairly within the
purposes of this act.
(2) None of the following actions shall deprive the administrator of any
jurisdiction or right to
institute or proceed with any disciplinary proceeding against such
registration, to render a
decision suspending, revoking or refusing to renew such registration, or to
establish and make
a record 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 registration issued under this act by
operation of law;
(c) the registrant's failure to renew any registration issued under this act;
or
(d) the registrant's voluntary surrender of any registration issued under
this act.
(3) This section shall be part of and supplemental to the uniform consumer
credit code.