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Home » US Law » 2021 Kansas Statutes » Chapter 50 - Unfair Trade And Consumer Protection » Article 11 - Credit Services Organizations

50-1116 Kansas credit services organization act; citation; scope.

50-1116. Kansas credit services organization act; citation; scope. (a) K.S.A. 50-1116 through 50-1135, and amendments thereto, shall be known and may be cited as the Kansas credit services organization act. (b) Any individual licensed to practice law in this state acting within the course and scope of such individual’s practice as an attorney, and such […]

50-1117 Same; definitions.

50-1117. Same; definitions. Definitions as used in this act: (a) “Commissioner” means the state bank commissioner or designee, who shall be the deputy commissioner of the consumer and mortgage lending division of the office of the state bank commissioner. (b) “Consumer” means an individual who is a resident of this state. (c) “Credit services organization” […]

50-1119 Same; bond; requirements.

50-1119. Same; bond; requirements. Each applicant or licensee shall file with the commissioner a surety bond in a form acceptable to the commissioner. The surety bond shall be issued by a surety or insurance company authorized to conduct business in this state, securing the applicant’s or licensee’s faithful performance of all duties and obligations of […]

50-1120 Same; duties of licensee.

50-1120. Same; duties of licensee. No person required to be licensed by this act shall engage in debt management services unless: (a) The licensee has provided the consumer with a credit education program designed to improve the financial literacy of the consumer. (b) The licensee has: (1) (A) Taken reasonable steps to identify all creditors […]

50-1121 Same; prohibited acts.

50-1121. Same; prohibited acts. No person required to be licensed under this act shall: (a) Delay payment of a consumer’s debt for the purpose of increasing interest, costs, fees or charges payable by the consumer. (b) Make any misrepresentation of any material fact or false promise to: (1) Influence, persuade or induce a consumer to […]

50-1122 Same; registrant’s duties regarding certain funds paid to licensee.

50-1122. Same; registrant’s duties regarding certain funds paid to licensee. (a) Within four calendar days after receipt of any funds paid to the licensee by or on behalf of a consumer for disbursement to such consumer’s creditors, a licensee shall deposit such funds in a trust account established for the benefit of consumers. (b) A […]

50-1123 Same; licensee’s report to consumer; required contents.

50-1123. Same; licensee’s report to consumer; required contents. A licensee shall provide a report at least once every three months to each consumer who has entered into a debt management services agreement with the licensee. The report shall include the: (a) Total amount received from the consumer to date; (b) total amount paid to each […]

50-1125 Same; records; retention; inspection.

50-1125. Same; records; retention; inspection. (a) Each licensee shall maintain and preserve complete and adequate business records including a general ledger containing all assets, liabilities, capital, income and expense accounts for a period of five years. (b) Each licensee shall maintain and preserve complete and adequate records of each debt management services agreement during the […]

50-1126 Same; fees charged by licensee; when allowed.

50-1126. Same; fees charged by licensee; when allowed. (a) No licensee shall impose any fees or other charges on a consumer, or receive any funds or other payments from a consumer or another person on behalf of a consumer: (1) Except as provided in subsection (b)(5), until after the licensee and consumer have executed a […]

50-1127 Same; denial, suspension, revocation or refusal to renew license; notice.

50-1127. Same; denial, suspension, revocation or refusal to renew license; notice. The commissioner may deny, suspend, revoke or refuse to renew a license issued pursuant to this act, and amendments thereto, if the commissioner finds, after notice and opportunity for a hearing conducted in accordance with the provisions of the Kansas administrative procedure act, that: […]

50-1128 Same; state bank commissioner; powers and duties.

50-1128. Same; state bank commissioner; powers and duties. This act shall be administered by the commissioner. In addition to other powers granted by this act, the commissioner, within the limitations provided by law, may exercise the following powers: (a) Adopt, amend and revoke rules and regulations as necessary to carry out the intent and purpose […]

50-1129 Same; cease and desist orders; civil fines.

50-1129. Same; cease and desist orders; civil fines. (a) If the commissioner determines after notice and opportunity for a hearing pursuant to the Kansas administrative procedure act that any person has engaged, is engaging or is about to engage in any act or practice constituting a violation of any provision of this act or any […]

50-1130 Same; subpoenas.

50-1130. Same; subpoenas. (a) In case of contumacy by, or refusal to obey a subpoena issued to any person, any court of competent jurisdiction, upon application by the commissioner, may issue to that person an order requiring the person to appear before the commissioner, or the officer designated by the commissioner, there, to produce documentary […]

50-1131 Same; criminal penalty.

50-1131. Same; criminal penalty. Any person violating the provisions of this act or any rule and regulation promulgated thereunder upon conviction shall be guilty of a class B nonperson misdemeanor. History: L. 2004, ch. 22, § 16; July 1.

50-1132 Same; construction; application of consumer protection act.

50-1132. Same; construction; application of consumer protection act. Any violation of this act or any rule and regulation promulgated thereunder is a deceptive act or practice under the Kansas consumer protection act. Any remedy provided by this act shall be construed to be in addition to other remedy provided by the Kansas consumer protection act. […]

50-1133 Same; private remedies.

50-1133. Same; private remedies. (a) Any consumer injured by a violation of this act or any rule and regulation promulgated thereunder may bring an action for recovery of damages. The damages awarded may not be less than the amount paid by the consumer to the credit services organization plus reasonable attorney fees and court costs. […]

50-1134 Same; injunction.

50-1134. Same; injunction. The commissioner, attorney general, county or district attorney or a consumer may bring an action in a district court to enjoin any violation of this act or any rule and regulation promulgated thereunder. History: L. 2004, ch. 22, § 19; July 1.

50-1135 Same; fees collected by commissioner.

50-1135. Same; fees collected by commissioner. All fees collected by the commissioner pursuant to this act shall be subject to the provisions of K.S.A. 75-1308 and amendments thereto. History: L. 2004, ch. 22, § 20; July 1.