Kan. Admin. Regs. § 17-24-6 - Bond requirements

Each applicant for a new or renewal Kansas mortgage business act license shall submit a bond in the following amounts:

(a) For any applicant who maintains a bona fide office, $50,000.00 or, if the applicant or licensee originated or made more than $50,000,000.00 in Kansas mortgage loans during the previous calendar year, $75,000.00; or

(b) for each applicant or licensee who does not maintain a bona fide office, $100,000.00 or, if the applicant or licensee originated more than $50,000,000.00 in Kansas mortgage loans during the previous calendar year, $125,000.00.

Notes

Kan. Admin. Regs. § 17-24-6

Authorized by K.S.A. 2008 Supp. 9-2209, as amended by 2009 SB 240, §9, and K.S.A. 2008 Supp. 9-2211, as amended by 2009 SB 240, §10; implementing K.S.A. 2008 Supp. 9-2211, as amended by 2009 SB 240, §10; effective Oct. 2, 2009.