Kan. Admin. Regs. § 21-60-11

Current through Register Vol. 43, No. 50, December 12, 2024

Section 21-60-11 - Discrimination in the purchasing of loans

(a) It shall be unlawful for any person or entity engaged in purchasing loans or other debts or securities which support the purchase, construction, improvement, repair or maintenance of a dwelling, or which are secured by residential real estate, to refuse to purchase such loans, debts, or securities, or to impose different terms or conditions for such purchases, because of race, religion, color, sex, disability, familial status, national origin or ancestry.

(b) Unlawful practices under this act include, but are not limited to:

(1) purchasing loans or other debts or securities which relate to or are secured by real property in certain communities or neighborhoods, but not in others, because of the race, religion, color, sex, disability, familial status, national origin or ancestry of one or more persons in such neighborhoods or communities;

(2) pooling or packaging loans or other debts or securities which relate to or which are secured by real property in a different manner because of race, religion, color, sex, disability, familial status, national origin or ancestry; and

(3) imposing or using different terms or conditions on the marketing or sale of securities issued on the basis of loans or other debts or securities which relate to or which are secured by real property because of race, religion, color, sex, disability, familial status, national origin or ancestry.

(c) Any person or entity engaged in the purchasing of loans may consider factors justified by business necessity, including requirements of federal law, and factors relating to a transaction's financial security or to protection against default or reduction of the value of the security.

Kan. Admin. Regs. § 21-60-11

Authorized by K.S.A. 1991 Supp. 44-1004; implementing K.S.A. 1991 Supp. 44-1017, as amended by 1992 H.B. 3164, §1 and 6; effective July 1, 1992; effective, T-21-7-1-92, July 1, 1992; effective Aug. 17, 1992.