reglab/housing_qa huggingface dataset:
KS Stat § 9-2308 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2308 Name of institution; advertising; restrictions.

9-2308. Name of institution; advertising; restrictions. A fiduciary financial institution may use in such fiduciary financial institution's business name or advertising the words "fiduciary financial institution" or any similar term or phrase, but may not use in such institution's name the words "bank" or "trust company" without reference to fidfin trusts or any other term that tends to imply that such fiduciary financial institution is a bank or trust company, unless the commissioner has approved the use in writing after finding that the use will not be misleading. While a fiduciary financial institution is a trust company for purposes of federal and state law and rules and regulations and possesses trust powers under this act, it is the intent of this section to impose restrictions on the name of such institution to avoid confusion with other banks and trust companies that operate in this state but that are not fiduciary financial institutions. The naming restrictions imposed under this section shall in no way reduce or eliminate the trust powers granted to a fiduciary financial institution as a trust company under this act. Other than indicating that the fiduciary financial institution is headquartered and chartered in Kansas, no fiduciary financial institution's name or advertising shall infer or imply that such fiduciary financial institution is endorsed by, an affiliate of or otherwise connected with the government of the state of Kansas.History: L. 2021, ch. 80, § 8; July 1.
KS Stat § 9-2309 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2309 Maintaining suitable office space; requirements; staffing; maintenance of records.

9-2309. Maintaining suitable office space; requirements; staffing; maintenance of records. (a) A fiduciary financial institution shall:(1) Maintain suitable office space in an economic growth zone, as defined in K.S.A. 2021 Supp. 9-2301, and amendments thereto, for fidfin transactions, custodial services and trust business and for the storage of, and access to, fiduciary financial institution records;(2) employ, engage or contract with at least three employees to provide services for the fiduciary financial institution in Kansas related to the powers of the fiduciary financial institution and to facilitate the examinations required by this act; and(3) perform fidfin transactions, custodial services and trust business in Kansas, and a fiduciary financial institution may also engage in fidfin transactions, custodial services and trust business in other states to the extent permitted by applicable law.(b) As used in this section, the term "suitable office space" means at least 2,000 square feet of class A office space located in an economic growth zone selected by the fiduciary financial institution that the fiduciary financial institution utilizes as such fiduciary financial institution's principal office.(c) The fiduciary financial institution's principal office shall:(1) Be in premises distinct and divided from the office space of any other entity;(2) be located in an economic growth zone selected by the fiduciary financial institution;(3) have the name, charter and certificate of authority of the fiduciary financial institution prominently displayed;(4) have access to premises in or adjacent to the office space sufficient to facilitate on-site examinations by the state banking board or commissioner;(5) to the extent the fiduciary financial institution maintains hard copies of any documents required to be maintained under this chapter, have a secure fireproof file cabinet that contains all such hard copies; and(6) to the extent the fiduciary financial institution maintains any record electronically, have a secure computer terminal or other secure electronic device that provides access to such records, including account information, as necessary to facilitate an efficient and effective examination.(d) Fidfin transactions, custodial services and trust business is deemed to have been performed in Kansas for purposes of this section if fidfin transaction or custodial service agreements are approved or signed in this state on behalf of the fiduciary financial institution and at least three of the following acts are performed by a technology platform wholly or partly operated in this state:(1) Annual account reviews;(2) annual investment reviews;(3) trust or custodial accounting;(4) account correspondence;(5) reviewing and signing trust account or custodial account tax returns; or(6) distributing account statements.History: L. 2021, ch. 80, § 9; July 1.
KS Stat § 9-2310 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2310 General powers.

9-2310. General powers. (a) Any fiduciary financial institution is hereby authorized to exercise by its board of directors or duly authorized officers or agents, subject to law, the following powers:(1) To engage in fidfin transactions in accordance with K.S.A. 2021 Supp. 9-2311, and amendments thereto;(2) to receive, retain and manage alternative asset custody accounts in accordance with K.S.A. 2021 Supp. 9-2313, and amendments thereto; and(3) to engage in trust business as defined in K.S.A. 9-701, and amendments thereto.History: L. 2021, ch. 80, § 10; July 1.
KS Stat § 9-2313 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2313 Custodial services; requirements.

9-2313. Custodial services; requirements. (a) A fiduciary financial institution may serve as a custodian, which may include serving as a qualified custodian, as defined by the United States securities and exchange commission in 17 C.F.R. § 275.206(4)-2, of an asset custody account. In performing custodial services under this section, a fiduciary financial institution shall:(1) Implement all accounting, account statement, internal control, notice and other standards specified by applicable state or federal law and rules and regulations for custodial services;(2) maintain information technology best practices relating to alternative assets held in custody;(3) fully comply with applicable federal anti-money laundering, customer identification and beneficial ownership requirements; and(4) take other actions necessary to comply with the requirements of this section.(b) Alternative asset custody accounts over which a fiduciary financial institution serves as a custodian or qualified custodian are not depository liabilities or assets of the fiduciary financial institution.(c) In performing custodial services under this section:(1) A fiduciary financial institution shall be a fiduciary and shall be subject to the duties and standards of utmost care and loyalty that are associated with serving as a fiduciary;(2) a fiduciary financial institution shall be deemed to be exercising fiduciary powers; and(3) all income earned by a fiduciary financial institution and derived from performing custodial services shall be deemed to be income derived from the exercise of fiduciary powers.History: L. 2021, ch. 80, § 13; July 1.
KS Stat § 9-2314 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2314 Trust advisor; rights, powers, immunities and liabilities.

9-2314. Trust advisor; rights, powers, immunities and liabilities. Any instrument providing for a trust advisor may also provide such trust advisor with some, none or all of the rights, powers, privileges, benefits, immunities or authorities available to a trustee under Kansas law or under such instrument. Unless the instrument provides otherwise, a trust advisor has no greater liability to any person than would a trustee holding or benefiting from the rights, powers, privileges, benefits, immunities or authority provided or allowed by the instrument to such trust advisor.History: L. 2021, ch. 80, § 14; July 1.
KS Stat § 9-2315 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2315 Excluded fiduciary; actions not liable for; relieved of certain duties; deemed administrative actions.

9-2315. Excluded fiduciary; actions not liable for; relieved of certain duties; deemed administrative actions. (a) An excluded fiduciary is not liable, either individually or as a fiduciary, for any of the following:(1) Any loss that results from compliance with a direction of the trust advisor, including any loss from the trust advisor breaching fiduciary responsibilities or acting beyond the trust advisor's scope of authority; or(2) any loss that results from a failure to take any action proposed by an excluded fiduciary that requires a prior authorization of the trust advisor if such excluded fiduciary timely sought but failed to obtain such authorization.(b) Any excluded fiduciary is relieved from any obligation to review or evaluate any direction from a trust advisor to make distributions or to perform investment or suitability reviews, inquiries or investigations or to make recommendations or evaluations with respect to any investments to the extent the trust advisor had authority to direct the acquisition, disposition or retention of the investment. If the excluded fiduciary offers such recommendations or evaluations to the trust advisor or any investment person selected by the trust advisor, such action shall not constitute an undertaking by the excluded fiduciary to monitor or otherwise participate in actions within the scope of the advisor's authority or to constitute any duty to do so.(c) Any excluded fiduciary is also relieved of any duty to communicate with or warn or apprise any beneficiary or third party concerning instances in which the excluded fiduciary would or might have exercised the excluded fiduciary's own discretion in a manner different from the manner directed by the trust advisor.(d) Absent contrary provisions in the governing instrument, the actions of the excluded fiduciary, such as any communications with the trust advisor and others and carrying out, recording and reporting actions taken at the trust advisor's direction, pertaining to matters within the scope of authority of the trust advisor, shall be deemed to be administrative actions taken by the excluded fiduciary solely to allow the excluded fiduciary to perform those duties assigned to the excluded fiduciary under the governing instrument. Such administrative actions shall not constitute an undertaking by the excluded fiduciary to monitor, participate or otherwise take any fiduciary responsibility for actions within the scope of authority of the trust advisor.(e) In any action against an excluded fiduciary pursuant to the provisions of this section, the burden to prove the matter by clear and convincing evidence is on the person seeking to hold the excluded fiduciary liable.History: L. 2021, ch. 80, § 15; July 1.
KS Stat § 9-2316 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2316 Trust advisor; presumed fiduciary; jurisdiction; appointment.

9-2316. Trust advisor; presumed fiduciary; jurisdiction; appointment. (a) A trust advisor shall be presumed to be a fiduciary when exercising such trust advisor's authority under this act.(b) By accepting an appointment to serve as a trust advisor of a fidfin trust or an alternative asset custody account that is subject to the laws of this state, the trust advisor submits to the jurisdiction of the courts of Kansas even if investment advisory agreements or other related agreements provide otherwise. The trust advisor may be made a party to any action or proceeding relating to a decision or action of the trust advisor.(c) An instrument may appoint an individual, corporation or limited liability company as the trust advisor of a fidfin trust or an alternative asset custody account.History: L. 2021, ch. 80, § 16; July 1.
KS Stat § 9-2317 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2317 Entity as trust advisor; requirements.

9-2317. Entity as trust advisor; requirements. (a) If an entity is appointed as a trust advisor, the provisions of article 8 of chapter 9 of the Kansas Statutes Annotated, and amendments thereto, shall not apply to such entity, if the entity:(1) Is established for the exclusive purpose of acting as a trust advisor;(2) is acting in such capacity under an instrument that names a fiduciary financial institution as trustee or custodian;(3) is not engaged in trust business with the general public as a public trust company or with any family as a private trust company;(4) does not hold itself out as being in the business of acting as a fiduciary for hire as either a public or private trust company; and(5) agrees to be subject to examination by the office of the state bank commissioner at the discretion of the commissioner.(b) The governing documents of any such entity shall limit such entity's authorized activities to those of a trust advisor and shall further limit the performance of such functions to only fidfin trusts and alternative asset custody accounts. An entity complying with this section shall notify the director of its existence and capacity to act.History: L. 2021, ch. 80, § 17; July 1.
KS Stat § 9-2318 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2318 Indemnification of trust advisor; exceptions.

9-2318. Indemnification of trust advisor; exceptions. An instrument may relieve and indemnify a trust advisor and a fiduciary financial institution that serves as trustee of a fidfin trust or alternative asset custody account from liability for a breach of fiduciary duty if any such provision is unenforceable to the extent that it relieves the trust advisor or fiduciary financial institution from liability for a breach of fiduciary duty committed:(a) In bad faith;(b) intentionally; or(c) with reckless indifference to the interest of a beneficiary.History: L. 2021, ch. 80, § 18; July 1.
KS Stat § 9-2319 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2319 Trustee compensation.

9-2319. Trustee compensation. (a) Notwithstanding the provisions of K.S.A. 58a-708, and amendments thereto, if the terms of a fidfin trust specify the trustee's compensation, such trustee is entitled to be compensated as provided in such terms, except that compensation may be increased or decreased upon approval by the trustee and by unanimous consent of the beneficiaries.(b) If the terms of a fidfin trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, except that the court may allow more compensation if:(1) The duties of the trustee are substantially different from those contemplated when the trust was created; or(2) the compensation specified by the terms of the trust would be unreasonably low.History: L. 2021, ch. 80, § 19; July 1.
KS Stat § 9-2320 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2320 Privacy; protection in court proceedings; exception.

9-2320. Privacy; protection in court proceedings; exception. The privacy of those who have established a fidfin trust or alternative asset custody account shall be protected in any court proceeding concerning such trust if the acting trustee, custodian, trustor or any beneficiary so petition the court. Upon the filing of such a petition, the instrument, inventory, statement filed by any trustee or custodian, annual verified report of the trustee or custodian, final report of the trustee or custodian and all petitions relevant to trust administration and all court orders thereon shall be sealed upon filing and shall not be made a part of the public record of the proceeding, except that such petition shall be available to the court, the trustor, the trustee, the custodian, any beneficiary, their attorneys and to such other interested persons as the court may order upon a showing of need.History: L. 2021, ch. 80, § 20; July 1.
KS Stat § 9-2321 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2321 Forms; definition; request for review; review not approval or endorsement.

9-2321. Forms; definition; request for review; review not approval or endorsement. (a) For purposes of this section, "form" includes:(1) An instrument as defined in K.S.A. 2021 Supp. 9-2301, and amendments thereto;(2) a transaction agreement between a fiduciary financial institution and a fidfin trust;(3) any other documents executed by a fiduciary financial institution or a fidfin trust in connection with a fidfin transaction; and(4) any document executed by a fiduciary financial institution or a customer in connection with the creation and management of an alternative asset custody account.(b) The commissioner may, upon a written request from a fiduciary financial institution prior to a form submission, offer to review a form and reply with informational comments only. Such informational comments shall not, in any manner, constitute approval or endorsement of such form, and the fiduciary financial institution shall not represent that such form has been approved by the office of the state bank commissioner.History: L. 2021, ch. 80, § 21; July 1.
KS Stat § 9-2322 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2322 Adoption of rules and regulations by the commissioner; contracts for technical assistance.

9-2322. Adoption of rules and regulations by the commissioner; contracts for technical assistance. (a) Pursuant to K.S.A. 9-1713, and amendments thereto, the commissioner shall adopt rules and regulations on or before January 1, 2022, as are necessary to administer this act.(b) The office of the state bank commissioner may enter into contracts for technical assistance and professional services as are necessary to administer the provisions of this act and to meet the deadline for the adoption of rules and regulations provided by this section. Such contracts shall be exempt from the requirements of K.S.A. 75-3739, 75-37,102 and 75-37,132, and amendments thereto, or any other statute relating to the procurement of such services.History: L. 2021, ch. 80, § 22; July 1.
KS Stat § 9-2323 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2323 No maximum interest rate or charge.

9-2323. No maximum interest rate or charge. Notwithstanding the provisions of chapter 16 of the Kansas Statutes Annotated, and amendments thereto, to the contrary, or any other statute, there is no maximum interest rate or charge or usury rate restriction between or among a fiduciary financial institution and a fidfin trust if the interest rate or charge is established by written agreement. A "written agreement" means a document in writing, whether in physical or electronic form, in which the parties have demonstrated their agreement to the terms and conditions of an extension of credit, including the rate of interest.History: L. 2021, ch. 80, § 23; July 1.
KS Stat § 9-2324 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2324 Technology-enabled fiduciary financial institutions development and expansion fund; administration by secretary of commerce; purpose; interest earnings.

9-2324. Technology-enabled fiduciary financial institutions development and expansion fund; administration by secretary of commerce; purpose; interest earnings. (a) There is hereby established in the state treasury the technology-enabled fiduciary financial institutions development and expansion fund to be administered by the secretary of commerce. Expenditures from the fund shall be for the purposes of distributing to economic growth zones for the purposes of economic development projects or opportunities and promoting and facilitating the development, growth and expansion of fiduciary financial institutions, fidfin activities and custodial services in the state and to locate such fiduciary financial institutions' office space in an economic growth zone as defined in K.S.A. 2021 Supp. 9-2301, and amendments thereto. All expenditures from the technology-enabled fiduciary financial institutions development and expansion fund shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the secretary of commerce or the secretary's designee.(b) On or before the 10th day of each month, the director of accounts and reports shall transfer from the state general fund to the technology-enabled fiduciary financial institutions development and expansion fund interest earnings based on:(1) The average daily balance of moneys in the technology-enabled fiduciary financial institutions development and expansion fund for the preceding month; and(2) the net earnings rate for the pooled money investment portfolio for the preceding month.History: L. 2021, ch. 80, § 24; July 1.
KS Stat § 9-2326 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2326 Trust interest not void or invalid by any common law rule.

9-2326. Trust interest not void or invalid by any common law rule. Notwithstanding the provisions of K.S.A. 59-3401, and amendments thereto, no interest held in a fidfin trust shall be void or invalid by reason of any common law rule, including, but not limited to, the rule against perpetuities or rule limiting the duration of trusts.History: L. 2021, ch. 80, § 26; July 1.
KS Stat § 9-2327 (2021)
2021 Kansas Statutes|Chapter 9 - Banks And Banking; Trust Companies|Article 23 - Technology-enabled Fiduciary Financial Institutions|9-2327 Tax classification as determined under the federal internal revenue code.

9-2327. Tax classification as determined under the federal internal revenue code. Notwithstanding the provisions of K.S.A. 17-2035, and amendments thereto, for purposes of any tax imposed by the state or any instrumentality, agency or political subdivision of this state, a business trust that is used in connection with fidfin transactions or custodial services, as defined in K.S.A. 2021 Supp. 9-2301, and amendments thereto, and for which a fiduciary financial institution, as defined in K.S.A. 2021 Supp. 9-2301, and amendments thereto, serves as trustee shall be classified as a corporation, an association, a partnership, a trust or otherwise, as shall be determined under the federal internal revenue code.History: L. 2021, ch. 80, § 27; July 1.
KS Stat § 10-101 (2021)
2021 Kansas Statutes|Chapter 10 - Bonds And Warrants|Article 1 - General Bond Law|10-101 "Municipality" defined.

10-101. "Municipality" defined. "Municipality," as used in this chapter and all acts amendatory thereto, unless otherwise expressed in such amendment, shall mean and include every corporation and quasi corporation empowered to issue bonds in payment of which taxes may be levied.History: R.S. 1923, § 10-101; December 27.
KS Stat § 10-102 (2021)
2021 Kansas Statutes|Chapter 10 - Bonds And Warrants|Article 1 - General Bond Law|10-102 "Municipal bonds" defined.

10-102. "Municipal bonds" defined. Unless otherwise expressly provided, when used in chapter 10 of the Kansas Statutes Annotated, and amendments thereto, "municipal bonds" means and includes all bonds issued by any municipality which constitute a general obligation of the municipality, except railroad aid bonds.History: R.S. 1923, § 10-102; L. 1983, ch. 48, § 1; April 7.