Senate Status:
2024 Statute
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16a-2-301. (UCCC) Authority to make or service supervised loans. (1) Unless a person is exempt from licensing pursuant to K.S.A. 2024 Supp. 16a-2-311, and amendments thereto, such person shall not engage in the business of: (a) Making supervised loans; or (b) taking assignments of and directly or indirectly, including through the use of supervised loans servicing contracts or otherwise, and either: (i) Undertaking collection of payments from debtors arising from supervised loans; or (ii) enforcing rights against debtors arising from supervised loans. (2) If any person is engaged in the business of subsection (1)(b), such person shall promptly apply for a license and may for three months collect and enforce without such license, provided such person's application has not been denied. |
History: L. 1973, ch. 85, § 18; L. 1980, ch. 76, § 6; L. 1985, ch. 83, § 1; L. 1988, ch. 85, § 5; L. 2009, ch. 29, § 16; L. 2024, ch. 6, § 42; January 1, 2025. |
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