Kansas Administrative Regulations
Agency 110 - KANSAS DEPARTMENT OF COMMERCE
Article 40 - KANSAS EXPORT FINANCE ACT
Section 110-40-4 - Application procedure

(a) Application forms. The completed application forms with all required exhibits and attachments shall be submitted to the director's office.

(b) Application fee. An application fee as provided in K.S.A. 1989 Supp. 74-5072(c) shall be paid by certified check payable to the department. The certified check shall accompany the completed application form submitted to the director's office. The fee shall not be refundable.

(c) Initial review and consideration by the director's office. The application shall be reviewed by the director's office for completeness and the applicant shall be notified of any additional information required. When all required information has been received, the application shall be evaluated taking into account the purposes of the Kansas export finance act and the criteria and terms of KAR 110-40-5 and KAR 110-40-6. The application shall then be submitted by the director's office to the review committee together with the recommendation of the director's office for approval or denial.

(d) Denial of application. If the application is disapproved by the review committee, the applicant shall be notified by the director's office in writing of the reasons for denial.

(e) Approval of application. If the application is approved by the review committee, the applicant shall be notified by the director's office in writing.

(f) Misrepresentation by applicant. Any application may be rejected, any notice of approval may be revoked, or closure on the loan may be refused by the director's office if any information provided by the applicant contains a material misrepresentation or omission. Each applicant shall have an affirmative and continuing duty to update and correct all information provided to the director's office or to the lender.