KAR 11:190 Emergency Orders And Hearing

Section 7
(1) Consistent with KRS 324.150(1)(b) and KRS 13B.125, the commission may issue an emergency order prior to conducting a hearing if an alleged escrow account violation warrants emergency action.

(2) An escrow account violation shall warrant emergency action if:
(a) A licensee is alleged to have committed two (2) or more escrow account violations;
(b) A licensee is alleged to have committed one (1) escrow account violation in excess of $500; or
(c) A substantiated threat to the public’s health, safety, or welfare exists.

(3) An emergency order authorized pursuant to this section shall be signed by the executive director, the chair of the commission, and one (1) member of the complaint screening committee. The order shall be served upon the licensee who is the subject of the emergency order pursuant to KRS 13B.125.

(4) An emergency order issued pursuant to this section may be served on the appropriate financial institution to order an escrow account be frozen until further orders of the commission or a court of competent jurisdiction.

(5) A licensee who is the subject of an emergency order issued pursuant to this section may request an emergency hearing in accordance with KRS 13B.125.

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