16a-2-101 (UCCC) Short title.
16a-2-101. (UCCC) Short title. This article shall be known and may be cited as revised uniform consumer credit code—finance charges and related provisions. History: L. 1973, ch. 85, § 14; January 1, 1974.
16a-2-102 (UCCC) Scope.
16a-2-102. (UCCC) Scope. Part 2 of this article applies to consumer credit sales. Parts 3 and 4 apply to consumer loans, including loans made by supervised lenders. Part 5 applies to other charges and modifications with respect to consumer credit transactions. Part 6 applies to other credit transactions. History: L. 1973, ch. 85, § 15; […]
16a-2-103 Computation of finance charges.
16a-2-103. Computation of finance charges. (1) The provisions of this section shall apply to all consumer loans and all consumer credit sales. (2) The finance charge on a consumer loan or consumer credit sale shall be computed in accordance with the actuarial method using either the 365/365 method or, if the consumer agrees in writing, […]
16a-2-104 (UCCC) Payment credit date.
16a-2-104. (UCCC) Payment credit date. (1) A creditor shall credit a payment to the consumer’s account on the date of receipt, except when a delay in crediting does not result in a finance charge or other charge. (2) Notwithstanding subsection (1), if a creditor specifies, in a writing delivered to the consumer, reasonable requirements for […]
16a-2-201 Finance charge for closed end consumer credit sales.
16a-2-201. Finance charge for closed end consumer credit sales. (1) This section applies only to a closed end consumer credit sale. (2) A seller may charge a finance charge at any rate agreed to by the parties, subject, however, to the limitations on prepaid finance charges set forth in subsection (3). (3) A seller may […]
16a-2-202 Finance charge for consumer credit sales pursuant to open end credit.
16a-2-202. Finance charge for consumer credit sales pursuant to open end credit. (1) With respect to a consumer credit sale made pursuant to open end credit, a seller may charge a finance charge at any rate agreed to by the parties. (2) A charge may be made in each billing cycle which is a percentage […]
16a-2-301 (UCCC) Authority to make supervised loans; residential mortgage loan origination; registration required.
16a-2-301. (UCCC) Authority to make supervised loans; residential mortgage loan origination; registration required. (1) Unless a person is a supervised financial organization; or has first obtained a license from the administrator authorizing such person to make supervised loans; or is the federal deposit insurance corporation acting in its corporate capacity or as receiver, such person […]
16a-2-302 (UCCC) License to make supervised loans; registration for residential mortgage loan originator fees.
16a-2-302. (UCCC) License to make supervised loans; registration for residential mortgage loan originator fees. (1) (a) The administrator shall receive and act on all applications for licenses to make supervised loans and all applications for residential mortgage loan originator registrations under this act. Applications shall be filed in the manner prescribed by the administrator and […]
16a-2-303 (UCCC) Denial, revocation or suspension of license; disciplinary proceedings.
16a-2-303. (UCCC) Denial, revocation or suspension of license; disciplinary proceedings. (1) The administrator may deny, revoke or suspend the license of a supervised lender if the administrator finds that: (a) The applicant or licensee 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 […]
16a-2-303a Denial, revocation or suspension of registration of residential mortgage loan originator.
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 […]
16a-2-304 Records; annual reports; maintenance of records; security of records; preservation of records.
16a-2-304. Records; annual reports; maintenance of records; security of records; preservation of records. (1) Every licensee and any assignee or servicer of a consumer credit transaction and every person required to file notification shall maintain records in conformity with generally accepted accounting principles and practices in a manner that will enable the administrator and, in […]
16a-2-307 (UCCC) Restrictions on interest in land as security.
16a-2-307. (UCCC) Restrictions on interest in land as security. With respect to a consumer loan in which the finance charge exceeds 12% and the amount financed is $3,000 or less, a lender may not contract for an interest in land as security. A security interest taken in violation of this section is void. History: L. […]
16a-2-308 (UCCC) Regular schedule of payments; maximum loan term.
16a-2-308. (UCCC) Regular schedule of payments; maximum loan term. If consumer loans in which the finance charge exceeds twelve percent (12%), not made pursuant to open end credit or lender credit cards issued by a licensed lender, and in which the amount financed is one thousand dollars ($1,000) or less are payable in installments, they […]
16a-2-309 Conduct of business; other than making loans.
16a-2-309. Conduct of business; other than making loans. A licensee may conduct the business of making loans under K.S.A. 16a-1-101 through 16a-9-102 within any office, room or place of business in which any other business is solicited or engaged in, or in association or conjunction therewith, unless the commissioner shall find, after a hearing, that […]
16a-2-310 Prohibited acts by persons licensed or registered under act.
16a-2-310. Prohibited acts by persons licensed or registered under act. (1) No person required to be licensed or registered under this act shall directly or indirectly: (a) Delay closing of a loan for the purpose of increasing interest, costs, fees or charges payable by the borrower; (b) misrepresent the material facts or make false promises […]
16a-2-401 Finance charge for consumer loan; loan secured by mortgage or interest in manufactured home; prepaid finance charges.
16a-2-401. Finance charge for consumer loan; loan secured by mortgage or interest in manufactured home; prepaid finance charges. (1) For any consumer loan incurred pursuant to open end credit, including, without limitation, a loan pursuant to a lender credit card, a lender may charge a finance charge at any rate agreed to by the parties, […]
16a-2-402 (UCCC) Consumer loans pursuant to open end credit; allowable charges per billing cycle.
16a-2-402. (UCCC) Consumer loans pursuant to open end credit; allowable charges per billing cycle. (1) This section applies only to consumer loans pursuant to open end credit. (2) A charge may be made in each billing cycle which is a percentage of an amount no greater than: (a) The average daily balance of the account, […]
16a-2-403 Prohibiting surcharge on credit or debit cards.
16a-2-403. Prohibiting surcharge on credit or debit cards. No seller or lessor in any sales or lease transaction or any credit or debit card issuer may impose a surcharge on a card holder who elects to use a credit or debit card in lieu of payment by cash, check or similar means. A surcharge is […]
16a-2-404 Payday loans; finance charges; rights and duties.
16a-2-404. Payday loans; finance charges; rights and duties. (1) On consumer loan transactions in which cash is advanced: (a) With a short term, (b) a single payment repayment is anticipated, and (c) such cash advance is equal to or less than $500, a licensed or supervised lender may charge an amount not to exceed 15% […]
16a-2-405 Payday loans to military borrowers; restrictions.
16a-2-405. Payday loans to military borrowers; restrictions. (a) Any person who makes a loan under the provisions of K.S.A. 16a-2-404, and amendments thereto, shall: (1) Not garnish any wages or salary paid to a military borrower for service in the armed forces. (2) Defer all collection activity against a military borrower who has been deployed […]