50-1116. Citation and scope of act. (a) K.S.A. 50-1116 through 50-1135, and amendments thereto, shall be known and may be cited as the Kansas credit services organization act.
(b) Any individual licensed to practice law in this state acting within the course and scope of such individual's practice as an attorney, and such individual's law firm, shall be exempt from the provisions of this act.
History: L. 2004, ch. 22, § 1; L. 2012, ch. 161, § 16; May 31.
CASE ANNOTATIONS
1. The statutory exemption from regulation by the office of Kansas state bank commissioner does not apply to a limited liability company or any other entity not licensed to practice law by the Kansas supreme court. Consumer Law Associates v. Stork, 47 Kan. App. 2d 208, 276 P.3d 226 (2012).
2. Out-of-state consumer debt settlement service would not qualify for exemption in the Kansas credit services organization act. In re Kinderknecht, 470 B.R. 149 (Bkrtcy. D. Kan. 2012).
3. The law firm of an attorney who is exempt from the statutory requirements is also exempt. Hays v. Ruther, 298 Kan. 402, 313 P.3d 782 (2013).
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