reglab/housing_qa huggingface dataset:
KS Stat § 17-2203 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2203 Use of name; penalty for unauthorized use.

17-2203. Use of name; penalty for unauthorized use. (a) Only credit unions organized under the provisions of the state credit union code, credit unions organized pursuant to federal law, an association of credit unions, or an organization, corporation or association whose membership or ownership is restricted to credit unions or credit union organizations may use any name, a website URL or title that contains the words "credit union" or any derivation thereof.(b) Any other use by any person, copartnership, association or corporation of any name, or website URL or title that contains the words "credit union" or any derivation thereof and any misrepresentation as a credit union or conducting of business as a credit union by such entities shall be a class A misdemeanor and punishable as such. The administrator, any credit union or any organization, corporation or association of credit unions described in subsection (a) may petition a court of competent jurisdiction to enjoin a violation of this section.History: L. 1929, ch. 141, § 3; L. 1941, ch. 181, § 1; L. 1976, ch. 105, § 1; L. 1982, ch. 103, § 1; L. 2019, ch. 22, § 4; July 1.
KS Stat § 17-2204a (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2204a Investments; limitations; definition of credit union services organization.

17-2204a. Investments; limitations; definition of credit union services organization. (a) Notwithstanding any other provision contained in the laws of this state providing for investments by credit unions, such credit unions may invest under written investment policies established by the board, in the bonds, debentures or other similar obligations issued under the authority of and pursuant to the act of congress known as the farm credit act of 1971, as amended. The total amount of such bonds, debentures or other similar obligations of any one obligor or maker shall at no time exceed 15% of the shares, undivided earnings and reserves of the credit union.(b) Subject to rules and regulations of the administrator, credit unions may invest in a credit union services organization under written investment policies established by the board, if the credit union services organization is structured as a corporation, limited liability company or limited partnership. Subject to rules and regulations of the administrator, credit unions may make loans to such credit union services organization, except that any such investment in or loans to such credit union services organization shall not exceed, in the aggregate, 2% of the credit union's shares, undivided earnings and reserves. "Credit union services organization" means an organization established to provide operational and financial services primarily to credit unions.(c) Subject to written guidelines issued by the administrator, a credit union may invest its funds under written investment policies established by the board, in investment securities defined by the administrator. Except for obligations of wholly owned government corporations, or obligations that provide a return of principal and interest that is guaranteed by an agency of the federal government, the total amount of such investment securities of any one obligor or maker held by the credit union shall at no time exceed 15% of the shares, undivided earnings and reserves of the credit union.(d) Except as provided in K.S.A. 17-2204, and amendments thereto, a credit union is prohibited from participating directly or indirectly in: (1) The purchase or sale of a standby commitment; (2) a futures contract; (3) adjusted trading; or (4) a short sale of a security. A credit union's directors, officials, committee members and employees, and immediate family members of such individuals, may not receive pecuniary consideration in connection with the making of an investment or deposit by the credit union.(e) Nothing contained in this section shall be construed to prohibit any funds of a credit union from being invested as now provided by law.History: L. 1957, ch. 153, § 1; L. 1971, ch. 76, § 1; L. 1973, ch. 93, § 1; L. 1987, ch. 85, § 2; L. 1995, ch. 128, § 1; L. 1996, ch. 72, § 1; L. 2007, ch. 71, § 1; L. 2019, ch. 22, § 6; July 1.
KS Stat § 17-2206a (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2206a Undelivered funds due creditors, depositors and shareholders of defunct credit union; duties of administrator and state treasurer; undistributed assets of defunct credit unions fund.

17-2206a. Undelivered funds due creditors, depositors and shareholders of defunct credit union; duties of administrator and state treasurer; undistributed assets of defunct credit unions fund. On and after July 1, 1972, and in every case occurring heretofore and hereafter, in which funds due to creditors, depositors and shareholders on liquidation of institutions under the jurisdiction of the credit union administrator under K.S.A. 17-2206 and 17-2230, and amendments thereto, are undelivered, they shall, together with accrued interest, if any, be paid to the credit union administrator, who shall remit such payments to the state treasurer, in accordance with the provisions of K.S.A. 75-4215, and amendments thereto, and credit such individual creditors, depositors or shareholders account in the undistributed assets of defunct credit union fund ledger. The state treasurer shall deposit the entire amount in the state treasury to the credit of the undistributed assets of defunct credit unions fund which is hereby created. Such fund shall be used only for refunds and payments of amounts due creditors, depositors and shareholders on claims filed with and approved by the credit union administrator. Any balance remaining in the fund from any single defunct credit union five years, during which time no person entitled thereto shall have appeared to claim such funds, shall be transferred by the credit union administrator to the state general fund and appropriate entries made in the individual creditors, depositors or shareholders record, showing the date and disposition of the funds and shall further recite that they were transferred by reason of this statute of limitation.History: L. 1972, ch. 62, § 1; L. 2001, ch. 5, § 59; July 1.
KS Stat § 17-2207 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2207 Fiscal year; meetings.

17-2207. Fiscal year; meetings. The credit union fiscal year shall end at the close of business on December 31. The annual meeting and any special meetings of the members of the credit union shall be held in accordance with the credit union's bylaws.History: L. 1929, ch. 141, § 7; L. 1959, ch. 117, § 2; L. 1982, ch. 102, § 3; L. 1997, ch. 5, § 1; L. 2019, ch. 22, § 8; July 1.
KS Stat § 17-2208 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2208 Officers; board of directors; committees; suspension of members, when.

17-2208. Officers; board of directors; committees; suspension of members, when. (a) Annually the members of the credit union shall elect members of a board of directors as shall be provided in the bylaws. The bylaws shall state the manner of appointment or election of a supervisory committee. If the bylaws provide for a credit committee, the credit committee may be appointed by the board of directors or elected by the members of the credit union. All directors and committee members shall be chosen from the membership. Directors and committee members shall hold office for such terms as may be provided in the bylaws.(b) One member of the supervisory committee may be a director other than the treasurer. Regular terms of supervisory committee members shall be for such term as shall be provided in the bylaws and until the selection and qualification of their successors.(c) All members of the board and committees and all officers shall be sworn and shall hold their several offices for such terms as may be provided in the bylaws. The oath shall be subscribed by the individual taking it and certified by the officer before whom it is taken and shall immediately be transmitted to the administrator and filed and preserved in the administrator's office.(d) The board of directors may suspend or remove any or all members of the credit and supervisory committees for failure to perform their duties. Any vacancy shall be filled in accordance with the credit union's bylaws.History: L. 1929, ch. 141, § 8; L. 1957, ch. 152, § 2; L. 1965, ch. 153, § 1; L. 1968, ch. 160, § 5; L. 1977, ch. 77, § 1; L. 1982, ch. 102, § 4; L. 2012, ch. 25, § 1; L. 2019, ch. 22, § 9; July 1.
KS Stat § 17-2209 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2209 Directors to elect officers; duties of board; executive committee.

17-2209. Directors to elect officers; duties of board; executive committee. (a) At the first meeting and at each first meeting in the fiscal year following the annual meeting of the credit union, the board of directors shall elect from their own number an executive officer who may be designated as chairperson of the board or president, a vice-chairperson of the board or one or more vice-presidents, a treasurer and a secretary, of whom the last two may be the same individual, and the persons so elected shall be the executive officers of the corporation.(b) The board of directors shall:(1) Set the par value of shares, if any, of the credit union.(2) Set the minimum of shares, if any, required for membership.(3) Designate those persons or positions authorized to execute or certify documents or records on behalf of the credit union.(4) Authorize the purchase of adequate fidelity and insurance coverage for officers, directors, committee members and employees and for losses caused by persons outside the credit union for which the credit union may be liable.(5) Authorize the employment and compensation of the chief executive officer.(6) Approve an annual operating budget for the credit union.(7) Authorize the conveyance of real property.(8) Review and approve the annual audit.(9) Appoint any committees deemed necessary.(10) Establish conditions under which a member may be removed for cause.(11) Perform such other duties or authorize any action not inconsistent with the state credit union code.(c) In addition, unless delegated, the board shall:(1) Establish policies under which the credit union may borrow, lend and invest money to carry on the functions of the credit union.(2) Act upon applications for membership in the credit union.(3) Establish the loan policies under which loans may be approved.(4) Declare dividends on shares and set the rates of interest on deposits.(5) Determine the amount that may be loaned to a member, together with the terms and conditions of the loan.(6) Approve the charge-off of credit union losses.(d) No member of the board of directors or of the credit or supervisory committee shall receive any compensation as a member of the board or committee. The provision of reasonable life, health, accident, disability and similar insurance protection for a director or committee member shall not be considered compensation. Directors and committee members, while on official business of the credit union, may be reimbursed for necessary expenses incidental to the performance of the business. The credit union may compensate any director, committee member or officer for loss of salary or wages due to the performance of business on behalf of the credit union.History: L. 1929, ch. 141, § 9; L. 1951, ch. 204, § 3; L. 1957, ch. 152, § 3; L. 1963, ch. 140, § 2; L. 1965, ch. 153, § 2; L. 1968, ch. 160, § 6; L. 1973, ch. 94, § 1; L. 1982, ch. 102, § 5; L. 1992, ch. 225, § 3; L. 2019, ch. 22, § 10; July 1.
KS Stat § 17-2210 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2210 Method of making loans.

17-2210. Method of making loans. The credit committee, credit manager, or loan officer shall have the general supervision of all loans to members. The credit committee, credit manager or loan officer may approve or disapprove loans, subject to written policies established by the board of directors. The president or general manager or a designee thereof may serve as the credit manager.History: L. 1929, ch. 141, § 10; L. 1941, ch. 181, § 2; L. 1959, ch. 117, § 3; L. 1976, ch. 107, § 1; L. 1982, ch. 103, § 3; L. 2012, ch. 25, § 2; L. 2019, ch. 22, § 11; July 1.
KS Stat § 17-2211 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2211 Duties of supervisory committee; annual and supplementary audits; acceptance of certain audits.

17-2211. Duties of supervisory committee; annual and supplementary audits; acceptance of certain audits. (a) The supervisory committee shall supervise the acts of the board of directors, credit committee and officers. The supervisory committee may suspend by a 2/3 vote any officer of the credit union or any member of the credit committee or the board of directors, until the next meeting of the members of the credit union, which meeting shall be held within 60 days after such suspension and at which meeting such suspension shall be acted upon by the members of the credit union. Any person suspended shall have the right to appear and be heard at the meeting.(b) The committee shall fill vacancies in their own number until the next annual meeting of the members or vacancies shall be filled in such a manner as is provided in the bylaws.(c) Subject to rules and regulations adopted by the administrator, the supervisory committee shall make or cause to be made a thorough annual audit of the receipts, disbursements, income, assets and liabilities of the credit union and shall make a full report to the directors, which report shall be presented at the annual meeting and shall be filed and preserved with the records of the credit union. The supervisory committee shall make or cause to be made such supplementary audits as it deems necessary or as may be ordered by the administrator, and submit reports of the supplementary audits to the board of directors. The administrator may accept in lieu of any required audit, an audit by a certified public accountant or other independent accountant.History: L. 1929, ch. 141, § 11; L. 1941, ch. 181, § 3; L. 1957, ch. 152, § 4; L. 1965, ch. 153, § 3; L. 1970, ch. 87, § 1; L. 1981, ch. 101, § 3; L. 1989, ch. 77, § 1; L. 1995, ch. 128, § 3; L. 2012, ch. 25, § 3; L. 2019, ch. 22, § 12; July 1.
KS Stat § 17-2212 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2212 Capital and revenue of credit union; right of setoff; dormant accounts; unmatured shares; transfer to reserve fund, when.

17-2212. Capital and revenue of credit union; right of setoff; dormant accounts; unmatured shares; transfer to reserve fund, when. (a) The capital of a credit union shall consist of the payments that have been made to such credit union on all types of shares. A credit union shall have a lien and right of setoff on the shares and on the dividends or other earnings payable thereon for and to the extent of any obligation of the member or other shareholder and of any dues and fines payable by the member or other shareholder. A credit union, upon the resignation or expulsion of a member, may cancel the shares of such member and apply the withdrawal value of such shares toward the liquidation of the member's indebtedness.(b) A credit union may charge a membership fee, as may be established by the board of directors. Fully paid-up shares of a credit union may be transferred to any person upon election to membership, upon such terms as the board may establish. Any money received in the share account of any member which has not matured to one full share within a three-year period shall be refunded to such member. If such member cannot be located after due diligence by the officer in charge of operations or other authorized person or employee, such money shall be transferred to the reserve fund. Such due diligence shall include the sending to the member at the last known address of the member a notice of the intended action to transfer money to the reserve fund. For the purposes of this section, the last known address of the member is the address given by the member in any writing signed by the member and shown on the records of the credit union. Unless and until the member notifies the credit union of a new or different address, the given address is presumed to be unchanged.(c) At such time as the location of the member, beneficiary or other person named on any share account is unknown to the credit union and there has not been any activity generated by the member, shareholder, or other person named on the account for 12 months or longer, such account may be considered a dormant account and may be placed in a separate grouping under a control system which will adequately identify such accounts. Adequate controls shall be established to determine the validity of significant activity on dormant accounts. This subsection shall be subject to the provisions of K.S.A. 58-3901 et seq., and any amendments thereto.History: L. 1929, ch. 141, § 12; L. 1951, ch. 204, § 4; L. 1982, ch. 102, § 6; L. 1992, ch. 225, § 4; July 1.
KS Stat § 17-2214 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2214 Corporate credit unions; powers; lending to members; credit unions lending to each other, approval.

17-2214. Corporate credit unions; powers; lending to members; credit unions lending to each other, approval. (a) Subject to rules and regulations prescribed by the administrator, corporate credit unions shall have the following additional powers to:(1) Provide access for its shareholders on a mutual basis to financial systems and the services and products of financial institutions;(2) provide its shareholders with research and consulting services concerning financial matters, institutions and products;(3) provide financial system support services and facilities;(4) establish and execute financial programs to assist its shareholders in meeting their needs;(5) provide safekeeping or trustee services to or on behalf of its shareholders;(6) issue shares or classes of shares with such terms and conditions as may vary from other shares authorized by this act as the administrator shall approve including, but not limited to, and notwithstanding the provisions of K.S.A. 17-2230, and amendments thereto, the subordination of such shares to other shares of the credit union without reducing the liability on all other shares, except that, such shares shall have a redemption priority in liquidation or termination of membership no earlier than provided to other shares authorized by this act; and(7) purchase from or sell to its members participation interests in loans made by the corporate credit union or its members.(b) A corporate credit union may lend to each member no more than 25% of the corporate credit union's assets, except that other credit unions, operating under the provisions of this act, may lend to each other only with the approval of the administrator, up to 25% of the shares, undivided earnings and reserves of the lending credit union.(c) Subject to written policies adopted by its board of directors and approved by the administrator, a corporate credit union may:(1) Make loans to;(2) receive payments on shares, share certificates or investments in any other account of the corporate credit union from; or(3) invest its funds in shares, stock or obligations of, organizations established to provide operational and financial services associated with the routine operations of credit unions.Any investments in the capital stock of or loans to such organizations shall not exceed, in the aggregate, 2% of such credit union's shares and unimpaired capital.History: L. 1929, ch. 141, § 14; L. 1951, ch. 204, § 5; L. 1965, ch. 153, § 4; L. 1968, ch. 160, § 7; L. 1970, ch. 88, § 1; L. 1973, ch. 85, § 134; L. 1988, ch. 97, § 1; L. 1992, ch. 225, § 5; L. 2019, ch. 22, § 13; July 1.
KS Stat § 17-2215 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2215 Power to borrow money; limitations.

17-2215. Power to borrow money; limitations. A credit union shall have the power to borrow from any source, subject to special orders of or in accordance with such rules and regulations as may be prescribed by the administrator, but the total of such borrowing shall at no time exceed 50% of the shares, undivided earnings and reserves of the borrowing credit union. Any credit union may discount with or sell to any federal intermediate credit bank any eligible obligations up to the amount of its shares and share certificates.History: L. 1929, ch. 141, § 15; L. 1981, ch. 101, § 4; L. 2019, ch. 22, § 14; July 1.
KS Stat § 17-2215a (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2215a Power of corporate credit unions to borrow increased by amount of certain investments.

17-2215a. Power of corporate credit unions to borrow increased by amount of certain investments. For a corporate credit union, the power to borrow shall be increased by the amount of investments of such credit union in government securities, and, further, the administrator may authorize borrowing in excess thereof.History: L. 1973, ch. 93, § 2; L. 1992, ch. 225, § 6; July 1.
KS Stat § 17-2216 (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2216 Loans to members; limitations.

17-2216. Loans to members; limitations. (a) Subject to rules and regulations of the administrator, a credit union may loan to its members, as provided, for such purposes and upon such security as the bylaws may provide and the credit committee, credit manager or duly authorized loan officer shall approve. Loans to members shall be made in conformity with criteria established by the board of directors. No loan shall be made in excess of 10% of the credit union's total assets.(b) Any loan secured by the insurance or guarantee of, or with advance commitment to purchase the loan by the federal government, a state government or any agency of either may be made under the terms and conditions specified in the law under which such insurance, guarantee or commitment is provided.History: L. 1929, ch. 141, § 16; L. 1941, ch. 181, § 4; L. 1949, ch. 190, § 2; L. 1951, ch. 204, § 6; L. 1953, ch. 131, § 1; L. 1959, ch. 117, § 4; L. 1963, ch. 140, § 3; L. 1965, ch. 153, § 5; L. 1972, ch. 60, § 1; L. 1976, ch. 108, § 1; L. 1981, ch. 101, § 5; L. 1983, ch. 83, § 2; L. 1992, ch. 225, § 7; L. 2013, ch. 41, § 1; L. 2019, ch. 22, § 15; July 1.
KS Stat § 17-2216a (2021)
2021 Kansas Statutes|Chapter 17 - Corporations|Article 22 - Credit Unions|17-2216a Loans to directors or members of credit or supervisory committees; conditions.

17-2216a. Loans to directors or members of credit or supervisory committees; conditions. Subject to rules and regulations of the administrator, a credit union may make loans to its directors, credit committee members and supervisory committee members or other members for which the director or committee member acts as guarantor or endorser who are not employees only if:(a) Such a loan complies with all lawful requirements under the credit union law with respect to loans to other borrowers and is not on terms more favorable than those extended to other borrowers;(b) in the case where, upon the making of the loan, the aggregate of loans outstanding to the borrower exceeds by $100,000 the total amount of shares, share certificates and other shareholdings in any credit union, not otherwise encumbered or pledged, which are pledged as security for the loans of the borrower, the loan is approved by the credit committee or duly authorized loan officer and the board of directors; and(c) the borrower takes no part in the consideration of the application and does not attend any committee or board meeting while the application is under consideration.History: L. 1976, ch. 108, § 2; L. 1981, ch. 101, § 6; L. 1983, ch. 83, § 3; L. 1992, ch. 225, § 8; L. 1997, ch. 5, § 2; L. 2013, ch. 41, § 2; L. 2019, ch. 22, § 16; July 1.