50-1009. Powers of securities commissioner; enforcement of subpoenas; privilege against self-incrimination; certificate of compliance or noncompliance, admissibility in evidence.
50-1009
50-1009. Powers of securities commissioner; enforcement of subpoenas;privilege against self-incrimination; certificate of compliance ornoncompliance, admissibility in evidence.(a) The commissioner may do the following:
(1) Adopt rules and regulations to implement this act;
(2) make investigations and examinations:
(A) In connection with any application for registration of any loanbroker or any registration already granted; or
(B) whenever it appears to the commissioner, upon the basis of acomplaint or information, that reasonable grounds exist for the belief thatan investigation or examination is necessary or advisable for the morecomplete protection of the interests of the public;
(3) appoint special investigators to aid in investigations conductedpursuant to this act. Such special investigators shall have the same authoritywith respect to enforcement of this act as specified for special investigatorsappointed under subsection (a) of K.S.A. 2005 Supp. 17-12a602, and amendmentsthereto, inenforcing the Kansas uniform securities act;
(4) charge as costs of investigation or examination allreasonableexpenses, including a per diem prorated upon the salary of the commissioneror employee and actual traveling and hotel expenses. All reasonableexpenses are to be paid by the party or parties under investigation orexamination;
(5) issue notices and orders, including cease and desist noticesandorders, after making an investigation or examination underparagraph (2).The commissioner may also bring an action on behalf of the state to enjoina person from violating this act. The commissioner shall notify the personthat an order or notice has been issued, the reasons for it and that ahearing will be set in accordance with the provisions of the Kansasadministrative procedures act after the commissioner receives a writtenrequest from the person requesting a hearing;
(6) sign all orders, official certifications, documents orpapers issuedunder this act or delegate the authority to sign any of those items to adeputy;
(7) hold and conduct hearings;
(8) hear evidence;
(9) conduct inquiries with or without hearings;
(10) receive reports of investigators or other officers oremployees of the state of Kansas or of any municipal corporation orgovernmental subdivision within the state;
(11) administer oaths or cause them to be administered;
(12) subpoena witnesses and compel them to attend and testify;
(13) compel the production of books, records and otherdocuments; and
(14) order depositions to be taken of any witness residingwithin orwithout the state. The depositions shall be taken in the manner prescribedby law for depositions in civil actions and made returnable to thecommissioner.
(b) If any person refuses to obey a subpoena issued under this act, thecommissioner may make application to any court of competent jurisdiction toorder the person to appear before the commissioner and produce documentaryevidence or give evidence as directed in the subpoena. The failure to obeythe order of the court shall be subject to punishment by the court as contempt of court.
(c) No person shall be excused from complying with a subpoena on theground that the testimony or evidence required may tend to incriminate theperson or subject the person to a penalty or forfeiture. No individual maybe prosecuted or subject to any penalty or forfeiture for or on account ofany transaction, matter or thing which the individual is compelled totestify or produce evidence, after claiming the privilege againstself-incrimination. However, the individual so testifying shall not beexempt from prosecution and punishment for perjury committed in so testifying.
(d) In any prosecution, action, suit or proceeding based upon or arisingout of this act, the commissioner may sign a certificate showing complianceor noncompliance with this act by any loan broker. This shall constituteprima facie evidence of compliance or noncompliance with this act and shallbe admissible in evidence in any action at law or in equity toenforce this act.
History: L. 1988, ch. 328, § 9;L. 1992, ch. 226, § 10;L. 2004, ch. 154, § 60; July 1, 2005.