The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-03-08

~.
AN AT amending sections l, , D. TO- and
u of chapter 133. of the Session Laws OF
lsll, and repeating said original sec
uons L, :, ), D, 10, and 10 of chapter I3;
OF the Session Laws of 1911
BE IT enacted by the Legislature of the
state of Kansas:
Section 1. That section of chapter 133
of the Session Laws of 1911 is hereby
am to read as follows: Section i:
me name Investment Company as used
IN this act shall include: Livery per
son, corporation, company co-partnershIp
OF ASSOCIATION whether Incorporated or
unlncorporated. except state and national
banks trust companies. real estate mort
gage companies dealing exclusively in
real estate mortgage notes. building &
and corporations not organized for profit
winch shall offer or negotiate for tnG
sale or take subscription for. or sell any
stocks. bonds, contracts, or other securi-
ties of any kind or character (other than
bonds of the United States. state or
municipal bonds; stock of state or ma
| uonal banks, building and loan associa-
tons. or corporations not organized for
profit and notes secured by mortgages on
realestate. located in tie state of KAN
sasl to any person persons in the state
of Kansas.
livery person, corporation, company
co-partnerShip or association who shall
issue, sell, offer or negotiate for the sale
of any contract for deed, bond for deed
or other papers by whatever names such
instruments may be designated, providing
that when certain payments are made or
certain conditions fulfilled. a deed or title
cells of land. providing that such land is
not located in the state of Kansas.
livery person, company co-partner
ship, corporation, or association organized
or which may hereafter be organized,
doing business as so-called investment
company. loan, benefit. cooperative
officially covered by the foregoing PRO
visions. and for the licensing, control and
supervision of which there is no law in
force in this state
Sec ,. That section of chapter 1876. of
the Session Laws of 1911 is hereby
snail b 10 n Ee @fu as fdp ANS See
company or any representative thereof
to sell, take subscription for, offer or
Whatsoever. of any stocks bonds. con-
tracts. other securities of any kind or
character, other than those exempted
from the provisions hereof WITHOUT per
nit from the bank commissioner. Before
securing such permit it shall be necessary
for each and every investment company
to lie in the office of the bank commits
sioner, together with filing fee of 50. 10,
the following papers, documents. state
ments and such other information as said
bank commissioner shall deem necessary
in each case towit:
l. An itemized statement of it's actual
financial condition, and the amount of its
assets and liza bilities-
>. copy of all contracts stocks and
bonds, or other securities which it pro-
poses to make. sell or negotiate to sell 70
its contributors.
s. Sample copies of all literature or adj
such investment company in the sale of
its securities.
4. copy of its constitution and by
laws articles of co-partnership or as
sociation
8. If it be an Incorporated investment
company it shall also file copy of its
charter and if said company be not or
eanized under the laws of the state OF
Kansas it shall be required to comOly
with the laws relating to the admission
of foreign corporations to do business in
he Kansas
Sec. s. That section of chapter I3S of
the Session Laws Of 1911 IS hereby
shall he the duty of the bank commission
er to examine the statement and docu-
ments so filed and if said bank COM
missioner shall deem it advisable, re sha':
make or have made A detailed examina-
ton. audit and Investigation of such in
vestment companys affairs and furnish a
fI1II and complete statement report OF
his investigation to the charter board,
providing that such investment company
NAV at its option refuse in writing to
have such investigation made in which
event the said bank commissioner shall
at once reject its application ne cnaf-
ter board shall examine the statement or
report and if said charter board snail fird
that such investment company is solvent,
that its articles of incorporation or asso-
citation its constitution and bylaws. its
proposed plan of business and proposed
contracts contain and provide for a fair.
Just and equitable plan for the transac-
ton of business. and in their juds ment
promises a fair return on the stocks.
bonds contracts or otEe- securities by II
offered for sale. the said charter boart.
shall order the bank commissioner to issue
To such investment company a statement
entitlino it to sell such securities in the
state of Kansas. The bank commission
er shall thereupon issue to such invest
nent company such statement recitine
that such company has complied witt
tT,e provisions of this act. that deta1led
Information in regard to the company and
its securities is on file in the bank com.
rnissioners office that such invest ment
company is permitted to sell its securities
in this state. and such statement SHAH
also recite in bold type that the bank