Section 9-590 - [Suspension and revocation](a) The commissioner may, after notice and an opportunity for a hearing conducted in accordance with the Kansas administrative procedure act, K.S.A. 77-501 et seq., and amendments thereto, suspend or revoke a license or order a licensee to revoke the designation of an authorized delegate if:(1) The licensee violates this act or any rules and regulations adopted or an order issued under this act;(2) the licensee does not cooperate with an examination or investigation by the commissioner;(3) the licensee engages in fraud, intentional misrepresentation or gross negligence;(4) an authorized delegate is convicted of a violation of a state or federal anti-money laundering statute or violates any rules or regulations adopted or an order issued under this act, as a result of the licensee's willful misconduct or willful blindness;(5) the competence, experience, character or general fitness of the licensee, authorized delegate, person in control of a licensee, key individual or responsible person of the authorized delegate indicates that it is not in the public interest to permit the person to provide money transmission;(6) the licensee engages in an unsafe or unsound practice as determined by the commissioner pursuant to subsection (b);(7) the licensee is insolvent, suspends payment of the licensee's obligations or makes a general assignment for the benefit of the licensee's creditors;(8) the licensee does not remove an authorized delegate after the commissioner issues and serves upon the licensee a final order that includes a finding that the authorized delegate has violated this act;(9) a fact or condition exists that, if it had existed when the licensee applied for a license, would have been grounds for denying the application;(10) the licensee's net worth becomes inadequate and the licensee, after 10 days, fails to take steps to remedy the deficiency;(11) the licensee demonstrated a pattern of failing to promptly pay obligations;(12) the licensee applied for adjudication, reorganization or other relief under bankruptcy; or(13) the licensee lied or made false or misleading statements to any material fact or omitted any material fact.(b) In determining whether a licensee is engaging in an unsafe or unsound practice, the commissioner may consider the size and condition of the licensee's money transmission, the magnitude of the loss, the gravity of the violation of this act and the previous conduct of the person involved.(c) This section shall take effect on and after January 1, 2025.Added by L. 2024, ch. 64,§ 36, eff. 7/1/2024.