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United States — Kansas
1 provisions
The commissioner may impose fines, order restitution, require other corrective action, and enter informal agreements to resolve matters, with confidentiality limits and a sunset on the confidentiality rule.
United States — Kansas
1 provisions
The act’s provisions are severable, and this section takes effect on and after January 1, 2025.
United States — Kansas
1 provisions
This section defines key banking terms used in the Kansas banking code.
United States — Kansas
1 provisions
Banks and trust companies need state banking board approval before organizing or doing business; private banks may not do banking business in the state.
United States — Kansas
1 provisions
Banks and trust companies may exercise corporate incidental powers after filing their articles, but cannot do business beyond limited organizational acts until they have board approval and the commissioner’s authorization.
United States — Kansas
1 provisions
A bank or trust company with lapsed articles may renew and extend its corporate existence if allowed by law and the required fees are paid.
United States — Kansas
1 provisions
The state banking board and commissioner must examine qualifying bank or trust company applications, and the commissioner must issue a certificate if the statutory conditions are met.
United States — Kansas
1 provisions
If an application is incomplete, the applicant must finish it within 60 days after notice or it is treated as abandoned. Banks and trust companies must begin the approved activity within 18 months, or the application expires, unless an exception applies. The commissioner can extend certain deadlines, and the state bank
United States — Kansas
1 provisions
Certain national banks and federal savings institutions in Kansas may convert to a state bank or state trust company if they meet voting, application, name, and approval requirements.
United States — Kansas
1 provisions
A state bank or state trust company may convert to certain federal banking forms if at least 2/3 of voting stock or members approve, and it must send related application and approval notices to the commissioner on short deadlines.
United States — Kansas
1 provisions
A FDIC-insured financial institution may not do business in the state unless it meets one of the listed exceptions.
United States — Kansas
1 provisions
Banks and trust companies must get commissioner approval before changing their name.
United States — Kansas
1 provisions
Banks and trust companies in Kansas cannot move their place of business without prior approval, and they must follow the application, notice, and filing steps in this section.
United States — Kansas
1 provisions
Applicants must pay a fee for examination and investigation costs, the commissioner must remit the money to the state treasurer, and the fund is used to pay related expenses and board member payments.
United States — Kansas
1 provisions
Defines “bankers’ bank” and gives the state banking board power to approve an application to organize one.
United States — Kansas
1 provisions
A mutual bank may raise deposits and issue account evidence, but it cannot overdraft for an affiliate. It may require 14 days’ notice before paying savings accounts if its governing documents or the commissioner’s rules allow it.
United States — Kansas
1 provisions
Banks and certain newly organized or relocating institutions must meet specified minimum capital rules, and banks below the 5% capital ratio must notify the commissioner within three business days.
United States — Kansas
1 provisions
Stock banks and trust companies covered by this section must set shares at $1 or a whole-number multiple, subscriptions must be paid in cash, and some share/par-value changes are allowed.
United States — Kansas
1 provisions
Banks and trust companies have rules for stock transfers, reporting large ownership changes to the commissioner, and getting approval before certain transfers when the institution is impaired.
United States — Kansas
1 provisions
A stock bank or trust company may reduce capital stock only with prior commissioner approval, and shareholders must file, surrender certificates, and wait for the exchange rules to be completed.