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Kansas Statutes Chapter 16A. Consumer Credit Code § 16a-2-301. (UCCC) Authority to make or service supervised loans

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Unless a person is exempt from licensing pursuant to K.S.A. 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.

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Cite this article: FindLaw.com - Kansas Statutes Chapter 16A. Consumer Credit Code § 16a-2-301. (UCCC) Authority to make or service supervised loans - last updated January 01, 2025 | https://codes.findlaw.com/ks/chapter-16a-consumer-credit-code/ks-st-sect-16a-2-301/

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