K.S.A. § 75-629 — KS Code / Chapter 75 / Article 6 / Section 75-629
75-629 - Investigations by the state treasurer of complaints from financial institutions against governmental units of noncompliance with public moneys investment laws; confidentiality of complaint; hearings; notification of attorney general and pooled money investment board of violations; penalties.
Status: in_force

75-629. Investigations by the state treasurer of complaints from financial institutions against governmental units of noncompliance with public moneys investment laws; confidentiality of complaint; hearings; notification of attorney general and pooled money investment board of violations; penalties. (a) If a bank, savings and loan association or savings bank has a good faith reason to believe that a governmental unit has not acted in compliance with K.S.A. 12-1675, 12-1677a or 12-1677b, and amendments thereto, the eligible financial institution may file a complaint with the state treasurer in writing and signed by an executive officer of the eligible financial institution. The complaint shall be submitted in the form prescribed by the state treasurer.

(b) Each filed complaint shall be confidential, not subject to the open records act, K.S.A. 45-215 et seq., and amendments thereto, and not be disclosed except as provided in this section. The provisions of this subsection shall expire on July 1, 2030, unless the legislature reviews and acts to continue such provisions pursuant to K.S.A. 45-229, and amendments thereto, prior to July 1, 2030.

(c) If the state treasurer determines that such verified complaint does allege facts, directly or upon information and belief, sufficient to constitute a violation of the provisions of K.S.A. 12-1675, 12-1677a or 12-1677b, and amendments thereto, the state treasurer shall promptly investigate the alleged violation.

(d) If, after the investigation, the state treasurer finds that probable cause does not exist to believe the allegations of the complaint, the state treasurer shall dismiss the complaint. If, after such preliminary investigation, the state treasurer finds that probable cause exists to believe the allegations of the complaint, such complaint shall no longer be confidential and may be disclosed. Upon making any such finding, the state treasurer shall fix a time for a hearing on the matter, which shall be not more than 30 days after such finding. In either event the state treasurer shall notify the complainant and the respondent of the state treasurer's determination.

(e) The state treasurer shall notify the attorney general and the pooled money investment board of any apparent violation of law that is discovered during the course of any such investigation.

(f) Any governmental entity that knowingly violates the provisions of K.S.A. 12-1675, 12-1677a or 12-1677b, and amendments thereto, for a first violation shall be required to complete a training approved by the state treasurer concerning the requirements of K.S.A. 12-1675, 12-1677a or 12-1677b, and amendments thereto. For a second and each succeeding violation, the governmental entity shall be liable for the payment of a civil penalty in an action brought by the attorney general, in a sum set by the court of not to exceed $500 for each violation. Any civil penalty sued for and recovered hereunder by the attorney general shall be paid into the attorney general's open government fund.