reglab/statecodes huggingface dataset:
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1115 Officers of bank or trust company; election; term; bond; forfeiture of office.

9-1115.
Officers of bank or trust company; election; term; bond; forfeiture of office.
(a) The board of directors may elect a chairperson and shall elect a president from its members and shall elect one or more vice-presidents, a secretary and a cashier. The office of president and cashier shall not be filled by the same person. Such officers shall hold their offices for a term of not to exceed one year and until their successors are elected and qualified.
(b) The board of directors shall require all officers and employees having the care or handling of the funds of the bank or trust company to give a good and sufficient bond to be executed by an approved corporate surety authorized to do business in this state. The amount and form of the bond shall be approved by the board of directors of the bank or trust company. The costs of such bonds shall be paid by the bank or trust company. Proof of current bond coverage shall be provided to the commissioner.
(c) Any officer of any bank or trust company who shall become indebted to such bank or trust company on any judgment or whose indebtedness is charged off or forgiven shall forfeit the office and the board of directors shall fill the vacancy.
History:
L. 1947, ch. 102, § 44; L. 1961, ch. 64, § 1; L. 1973, ch. 47, § 1; L. 1989, ch. 48, § 28; L. 1992, ch. 33, § 1; L. 1996, ch. 31, § 1; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1116 Meetings of board; examination of records, funds and securities; minutes.

9-1116. Meetings of board; examination of records, funds and securities; minutes.
(a) The board of directors shall hold at least four regular meetings each year, at least one of which shall be held during each calendar quarter. Minutes shall be made of each directors' meeting of a bank or trust company and shall show any action taken by the directors.
(b) In addition to other actions the board may take, the board shall take the following actions and note the same in the minutes:
(1) Election of all officers, showing their titles and salaries;
(2) approval of all regular employee compensation;
(3) prior approval of all bonuses to elected officers and employees, if provided;
(4) approval of all loans, including overdrafts. The board may establish a committee with authority to approve loans. The board shall approve a report from the committee summarizing all loans made since the board's last meeting;
(5) review and approval of the directors' examination or audit required under K.S.A. 9-1116, and amendments thereto;
(6) annual approval of all bank policies;
(7) review of all state and federal regulatory examination reports received since the board's last meeting;
(8) annual approval of fidelity bond and bank casualty insurance;
(9) approval of bank income and expenses and securities transactions;
(10) review and ratification of any committee reports; and
(11) approval of dividends and a review that the dividends are in compliance with K.S.A. 9-910, and amendments thereto.
(c) In addition, the board of directors or an auditor selected by the board shall make a thorough examination of the books, records, funds and securities held by the bank or trust company at each of the quarterly meetings and the result of such examination shall be recorded in detail. If the board selects an auditor, the auditor's findings shall be reported directly to the board. In lieu of the required four quarterly examinations, the board of directors may accept one annual audit by a certified public accountant or an independent auditor approved by the commissioner.
History:
L. 1947, ch. 102, § 45; L. 1967, ch. 71, § 1; L. 1970, ch. 62, § 1; L. 1975, ch. 44, § 20; L. 1983, ch. 46, § 4; L. 1989, ch. 48, § 29; L. 2015, ch. 38, § 53; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1119 Certified checks, drafts or orders.

9-1119. Certified checks, drafts or orders.
No officer or employee of any bank shall certify any check, draft or order drawn upon the bank unless the maker or drawer of the instrument has moneys or funds equal to the amount of the check, draft or order on deposit with such bank at the time the check, draft or order is certified. Any check, draft or order so certified by any duly authorized officer or employee of any bank shall be shown immediately upon the books of the bank.
History:
L. 1947, ch. 102, § 48; L. 1989, ch. 48, § 32; L. 2015, ch. 38, § 54; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1121 Reproduction of records and papers; evidence.

9-1121.
Reproduction of records and papers; evidence.
Any bank or trust company or savings and loan associations may cause any or all records, files, instruments, documents, or papers of any kind at any time in its custody, possession, or files to be reproduced by a nonerasable optical image reproduction provided that additions, deletions or changes to the original document are not permitted by the technology, or a photostatic, microfilm, microcard, miniature photographic or other photographic process. Any reproduction so made shall have the same force and effect as the original thereof, and shall be admitted in evidence before any court or governmental commission, bureau, agency, or department equally with the original, and without the necessity of proving inability to produce the original thereof.
History:
L. 1951, ch. 124, § 1; L. 1995, ch. 20, § 1; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1123 Bank service corporations; definitions.

9-1123. Bank service corporations; definitions.
For the purposes of K.S.A. 9-1124 through 9-1127c, and amendments thereto:
(a) The term "bank service company" means a corporation or limited liability company organized to perform services authorized by this act, all of the capital stock of which is owned by one or more state or national banks at least one of which is a state bank subject to examination by the bank commissioner.
(b) The term "invest" includes any advance of funds to a bank service company, whether by the purchase of stock, the making of a loan or otherwise, except a payment for rent earned, goods sold and delivered or services rendered prior to the making of such payment.
(c) The term "depository institution" means a state or national bank, savings and loan association, savings bank or credit union.
History:
L. 1963, ch. 64, § 1; L. 1984, ch. 48, § 10; L. 1989, ch. 48, § 33; L. 2015, ch. 38, § 56; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1124 Same; investment by banks; limitations.

9-1124. Same; investment by banks; limitations.
No limitation or prohibition otherwise imposed by any provision of state law exclusively relating to banks shall prevent any state bank or banks from investing not more than 10% of the paid-in and unimpaired capital and unimpaired surplus in a bank service company. No bank shall invest more than 5% of the bank's total assets in bank service companies.
History:
L. 1963, ch. 64, § 2; L. 1984, ch. 48, § 11; L. 2015, ch. 38, § 57; L. 2016, ch. 54, § 28; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1125 Same; unreasonable discrimination in providing services prohibited; exceptions.

9-1125. Same; unreasonable discrimination in providing services prohibited; exceptions.
No bank service company shall unreasonably discriminate in the provision of any services authorized under K.S.A. 9-1124 through 9-1127c, and amendments thereto, to any depository institution that does not own stock in the service company on the basis of the fact that the nonstockholding institution is in competition with an institution that owns stock in the bank service company, except:
(a) It shall not be considered unreasonable discrimination for a bank service company to provide services to a nonstockholding institution only at a price that fully reflects all of the costs of offering those services, including the cost of capital and a reasonable return thereon; and
(b) a bank service company may refuse to provide services to a nonstockholding institution if comparable services are available from another source at competitive overall costs or if the providing of services would be beyond the practical capacity of the service company. In any action or proceeding to enforce the duty imposed by this section, or for damages for the breach thereof, the burden shall be upon the bank service company to show such availability or practical capacity.
History:
L. 1963, ch. 64, § 3; L. 1984, ch. 48, § 12; L. 2015, ch. 38, § 58; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1127a Same; services which may be performed for depository institutions.

9-1127a. Same; services which may be performed for depository institutions.
Without regard to the provisions of K.S.A. 9-1127b and 9-1127c, and amendments thereto, a state bank may invest in a bank service company that performs, and a bank service company may perform, the following services only for depository institutions:
(a) Check and deposit sorting and posting, computation and posting of interest and other credits and charges;
(b) preparation and mailing of checks, statements, notices and similar items; or
(c) any other clerical, bookkeeping, accounting, statistical or similar functions performed for a depository institution.
History:
L. 1984, ch. 48, § 6; L. 2015, ch. 38, § 59; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1127b Same; services which may be provided by corporations; restrictions.

9-1127b. Same; services which may be provided by corporations; restrictions.
(a) A bank service company may provide to any person any service authorized by this section, except that a bank service company shall not take deposits.
(b) Except with the prior approval of the commissioner, a bank service company shall not perform the services authorized by this section in any state other than this state and all shareholders of a bank service company shall be located in this state.
(c) A bank service company in which a state bank is a shareholder shall perform only those services that such state bank shareholder is authorized to perform under the law of this state and shall perform such services only at locations in this state in which such bank shareholder could be authorized to perform such services.
(d) A bank service company in which a national bank is a shareholder shall perform only those services that such national bank shareholder is authorized to perform under federal law and shall perform such services only at locations in this state at which such national bank shareholder could be authorized to perform such services.
(e) A bank service company that has both national bank and state bank shareholders shall perform only those services that may lawfully be performed by both the bank service company's national bank shareholder or shareholders under federal law and the bank service company's state bank shareholder or shareholders under the law of this state and shall perform such services only at locations in this state at which both the bank service company's state bank and national bank shareholders could be authorized to perform such services.
(f) Notwithstanding the other provisions of this section or any other provision of law, other than the provisions of federal branching law and the branching law of this state regulating the geographic location of banks to the extent that those laws are applicable to an activity authorized by this subsection, a bank service company may perform at any geographic location any service, other than deposit taking, that the board of governors of the federal reserve system has determined, by regulation, to be permissible for a bank holding company under section 4(c)(8) of the federal bank holding company act.
History:
L. 1984, ch. 48, § 7; L. 2001, ch. 87, § 9; L. 2015, ch. 38, § 60; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1127c Same; investments in corporations performing certain services under K.S.A. 9-1127b; approval required.

9-1127c. Same; investments in corporations performing certain services under K.S.A. 9-1127b; approval required.
(a) No state bank shall invest in the capital stock of a bank service company that performs any service under K.S.A. 9-1127b(c), (d) or (e), and amendments thereto, without the prior approval of the commissioner.
(b) No state bank shall invest in the capital stock of a bank service company that performs any service under authority of K.S.A. 9-1127b(f), and amendments thereto, and no bank service company shall perform any activity under K.S.A. 9-1127b(f), and amendments thereto, without the prior approval of the commissioner.
(c) In determining whether to approve or deny any application for prior approval under K.S.A. 9-1124 through 9-1127c, and amendments thereto, the commissioner is authorized to consider the financial and managerial resources and future prospects of the bank or banks and bank service company involved, including the financial capability of the bank to make a proposed investment under this act, and possible adverse affects* such as undue concentration of resources, unfair or decreased competition, conflicts of interest or unsafe or unsound banking practices.
(d) In the event the commissioner fails to act on any application under this section within 90 days of the submission of a complete application, the application shall be deemed approved.
History:
L. 1984, ch. 48, § 8; L. 2001, ch. 87, § 10; L. 2015, ch. 38, § 61; L. 2016, ch. 54, § 29; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1127d Same; services performed for bank or subsidiary or affiliate; regulation and examination by commissioner; rules and regulations.

9-1127d.
Same; services performed for bank or subsidiary or affiliate; regulation and examination by commissioner; rules and regulations.
(a) Whenever a bank, or any subsidiary or affiliate of such bank that is subject to examination by the state bank commissioner, causes to be performed for itself, by contract or otherwise, any services authorized under this act on or off its premises:
(1) Such performance shall be subject to regulation and examination by the state bank commissioner to the same extent as if such services were being performed by the bank itself on its own premises; and
(2) the bank shall notify the state bank commissioner of the existence of the service relationship within 30 days after the making of such service contract or the performance of the service, whichever occurs first.
(b) The state bank commissioner, with the approval of the state banking board, is authorized to adopt such rules and regulations as may be necessary to administer and carry out the purpose of this act and to prevent evasions thereof.
History:
L. 1984, ch. 48, § 9; L. 2001, ch. 87, § 11; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1127e Same; investments by savings and loan associations and savings banks.

9-1127e. Same; investments by savings and loan associations and savings banks.
(a) No savings and loan association or savings bank may make any investment under this section if the association's aggregate outstanding investment in a service corporation would exceed 3% of the association's assets. Not less than 1/2 of the investment permitted under this section that exceeds 1% of the association's assets shall be used primarily for community, inner city, and community-development purposes.
(b) This section shall be a part of and supplemental to the state banking code.
History:
L. 2018, ch. 75, § 2; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1127f Same; new activities with savings and loan associations; prior approval required.

9-1127f. Same; new activities with savings and loan associations; prior approval required.
(a) A savings and loan association shall apply to the commissioner for approval at least 30 days prior to acquiring, establishing or commencing new activity with an existing service corporation and shall not engage in activity with the service corporation without the commissioner's approval. The application shall include:
(1) A complete description of the saving* and loan association's investment in the service corporation;
(2) the proposed activities of the service corporation;
(3) the organizational structure and management of the service corporation;
(4) the relationship between the savings and loan association and the service corporation; and
(5) any other information that the commissioner deems necessary to describe the proposal.
(b) A service corporation shall:
(1) Be operated in a manner that demonstrates to the public that it maintains a separate corporate identity from the applicant; and
(2) not commingle business transactions, accounts and records with a savings and loan association.
(c) In considering an application, the commissioner may:
(1) Limit a savings and loan association's investment in a service corporation; or
(2) refuse to permit any activity of a service corporation for supervisory, legal or safety and soundness reasons.
(d) This section shall be a part of and supplemental to the state banking code.
History:
L. 2018, ch. 75, § 3; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1127h Savings and loan service corporations; definitions.

9-1127h. Savings and loan service corporations; definitions.
As used in K.S.A. 9-1127e through 9-1127h, and amendments thereto:
(a) "Invest" means any investment in the capital stock, obligations or other securities, and any advance of funds to a service corporation, including the purchase of stock, the making of a loan or other such advance of funds. "Invest" does not include a payment for rent earned, goods sold and delivered or services rendered prior to the making of such payment.
(b) "Savings and loan service corporation" or "service corporation" means a corporation or limited liability company organized under the laws of Kansas. The entirety of the capital stock of a savings and loan service corporation shall be available for purchase only by Kansas-chartered savings and loan associations, Kansas-chartered savings banks and federally chartered savings and loan associations with home offices in Kansas. Kansas-chartered and federally chartered savings and loan associations and Kansas-chartered and federally chartered savings banks investing in a savings and loan service corporation shall designate the savings and loan service corporation as a service corporation.
(c) This section shall be a part of and supplemental to the state banking code.
History:
L. 2018, ch. 75, § 5; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1128 Deposits by banks or trust companies acting as fiduciaries or custodians for fiduciaries of certain securities guaranteed by the United States or agencies thereof; rules and regulations; records of ownership; certifications of deposit.

9-1128.
Deposits by banks or trust companies acting as fiduciaries or custodians for fiduciaries of certain securities guaranteed by the United States or agencies thereof; rules and regulations; records of ownership; certifications of deposit.
Notwithstanding any other provision of law, any bank or trust company when acting as fiduciary, and any bank or trust company when holding securities as custodian for a fiduciary, is authorized to deposit, or arrange for the deposit, with the federal reserve bank in its district of any securities the principal and interest of which the United States or any department, agency or instrumentality thereof has agreed to pay, or has guaranteed payment, to be credited to one or more accounts on the books of said federal reserve bank in the name of such bank or trust company, to be designated fiduciary or safekeeping accounts, to which account other similar securities may be credited. A bank or trust company so depositing securities with a federal reserve bank shall be subject to such rules and regulations with respect to the making and maintenance of such deposit as, in the case of a state bank incorporated under the laws of this state, the state bank commissioner, and, in the case of national banking associations, the comptroller of the currency, may from time to time adopt and promulgate. Any such rules and regulations of the state bank commissioner shall be adopted and promulgated in the manner provided by K.S.A. 9-1713, and amendments thereto. The records of such bank or trust company shall at all times show the ownership of the securities held in such account. Ownership of, and other interests in, the securities credited to such account may be transferred by entries on the books of said federal reserve bank without physical delivery of any securities. A bank or trust company acting as custodian for a fiduciary shall, on demand by the fiduciary, certify in writing to the fiduciary the securities so deposited by such bank or trust company with such federal reserve bank for the account of such fiduciary. A fiduciary shall, on demand by any party to its accounting or on demand by the attorney for such party, certify in writing to such party the securities deposited by such fiduciary with such federal reserve bank for its account as such fiduciary.
History:
L. 1974, ch. 43, § 1; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1129 Same; application of act.

9-1129.
Same; application of act.
This act shall apply to all banks and trust companies acting as fiduciaries, and as custodians for fiduciaries, on the effective date of this act or which thereafter may so act regardless of the date of the instrument or court order by which they are appointed.
History:
L. 1974, ch. 43, § 2; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1131 Repurchase agreements with pooled money investment board.

9-1131.
Repurchase agreements with pooled money investment board.
Each state bank, national bank and trust company located and doing business within the state of Kansas is hereby authorized to enter into repurchase agreements with the pooled money investment board under any statute authorizing the board to enter into such agreements.
History:
L. 1982, ch. 339, § 1; April 29.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1132 Personal liability of officers and directors, exceptions.

9-1132. Personal liability of officers and directors, exceptions.
Except for persons who are executive officers, an officer or director of a bank or national banking association shall have no personal liability to the bank, association or the bank's or association's stockholders for monetary damages for breach of duty as an officer or director, except that such liability shall not be eliminated for:
(a) Any breach of the officer's or director's duty of loyalty to the bank, association or the bank's or association's stockholders;
(b) acts or omissions which constitute willful or gross and wanton negligent breach of the officer's or director's duty of care;
(c) acts in violation of K.S.A. 9-910, 9-911 or 9-912, and amendments thereto; or
(d) any transaction from which the officer or director derived an improper personal benefit.
History:
L. 1993, ch. 288, § 1; L. 2015, ch. 38, § 63; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1133 Liability of officers and directors; actions; certain provisions applicable.

9-1133. Liability of officers and directors; actions; certain provisions applicable.
The provisions of K.S.A. 17-2268 and 17-5831, and amendments thereto, apply to an action brought against a director or officer of an insured depository institution, regardless of whether the action was filed before, on, or after May 20, 1993, unless the action was finally adjudicated before May 20, 1993. The provisions of this section shall not apply to executive officers as defined in K.S.A. 9-701 and 17-2268 and 17-5831, and amendments thereto.
History:
L. 1994, ch. 334, § 1; L. 2015, ch. 38, § 64; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1134 Liability of officers and directors; severability.

9-1134.
Liability of officers and directors; severability.
If any provision of K.S.A. 9-1132 or 9-1133, or 17-2268 and 17-5831 and amendments thereto or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of such statutes which can be given effect without the invalid provision or application, and to this end the provisions of such statutes are declared to be severable.
History:
L. 1994, ch. 334, § 2; May 19.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1137 Compliance review committees; functions; confidentiality of certain documents; definitions; exceptions.

9-1137. Compliance review committees; functions; confidentiality of certain documents; definitions; exceptions.
(a) For the purposes of this section:
(1) "Bank" means a state chartered or federally chartered bank, trust company or bank holding company as defined in K.S.A. 9-519, and amendments thereto, located in this state;
(2) "compliance review committee" means:
(A) An audit, loan review or compliance committee appointed by the board of directors of a bank that functions to evaluate and seeks to improve loan underwriting standards, asset quality, financial reporting to federal or state regulatory agencies or compliance with federal or state statutory or regulatory requirements; or
(B) any other person to the extent the person acts in an investigatory capacity at the direction of a compliance review committee;
(3) "compliance review documents" means documents prepared for or created by a compliance review committee;
(4) "loan review committee" means a person or group of persons who, on behalf of a bank, reviews loans held by the institution for the purpose of assessing the credit quality of the loans, compliance with the institution's loan policies and compliance with applicable laws and regulations; or
(5) "person" means an individual, group of individuals, board, committee, partnership, firm, association, corporation or other entity.
(b) Except as provided in subsection (c):
(1) Compliance review documents are confidential and are not discoverable or admissible in evidence in any civil action arising out of matters evaluated by the compliance review committee; and
(2) compliance review documents delivered to a federal or state governmental agency remain confidential and are not discoverable or admissible in evidence in any civil action arising out of matters evaluated by the compliance review committee.
(c) Subsection (b) does not apply to any information required by statute or rules and regulations to be maintained by or provided to a governmental agency while the information is in the possession of the governmental agency to the extent applicable law expressly authorizes disclosure of such information.
(d) This section may not be construed to limit the discovery or admissibility in any civil action of any documents that are not compliance review documents.
History:
L. 1995, ch. 35, § 1; L. 2015, ch. 38, § 65; L. 2016, ch. 54, § 31; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1138 School savings deposit program; requirements; definitions.

9-1138. School savings deposit program; requirements; definitions.
(a) As used in this section:
(1) "Accredited school" means any school operated by a public school district organized under the laws of this state and any nonpublic school accredited by the state board of education.
(2) "Board" means the board of education of a school district and the governing authority of an accredited nonpublic school.
(b) In order to encourage savings among school children, a bank may enter into a written agreement with a board of an accredited elementary or secondary school to establish a school savings deposit program. Such program shall be limited to the opening of accounts and the periodic collection, by bank employees or school personnel, of deposits from school children for deposit in such bank accounts.
(c) No such program shall be implemented until the executed agreement and any information deemed necessary has been submitted to the commissioner. If the commissioner determines the agreement and proposed program primarily promote educational objectives and the purpose of this section, the commissioner shall provide the bank with written approval to implement the program.
(d) Any bank participating in such school savings deposit program shall have the bank's main or branch office located in the same county as the participating school, or if no bank in the county wants to participate in such program, then banks in any contiguous county may participate.
History:
L. 1997, ch. 180, § 9; L. 2015, ch. 38, § 66; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1140 Prohibiting branch banks in certain locations.

9-1140. Prohibiting branch banks in certain locations.
(a) No bank shall establish or maintain a branch in this state on the premises or property of an affiliate if the affiliate engages in commercial activities.
(b) As used in this section:
(1) "Affiliate" means any company that controls, is controlled by, or is under common control with another company.
(2) "Bank" shall have the meaning stated in 12 U.S.C. § 1813(a)(1).
(3) "Branch" means any office, other than the place of business specified in the bank's certificate of authority, at which deposits are received, checks paid, money lent or trust authority exercised, if approval has been granted by the appropriate federal or state supervisory agency.
(4) "Commercial activities" means activities in which a bank holding company, a financial holding company, a national bank or a national bank financial subsidiary may not engage under federal or state law.
(5) "Control" means the power directly or indirectly to direct the management or policies of a bank or to vote 25% or more of any class of voting shares of a bank.
History:
L. 2007, ch. 78, § 2; L. 2015, ch. 38, § 67; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1141 Securing deposits for federally recognized Indian tribe.

9-1141. Securing deposits for federally recognized Indian tribe.
Banks are hereby authorized to give security for the safekeeping and prompt payment of funds deposited by any federally recognized Indian tribe.
History:
L. 2015, ch. 38, § 13; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 11 - Banking Code; Powers › 9-1142 Savings promotion; requirements; rules and regulations.

9-1142. Savings promotion; requirements; rules and regulations.
(a) A bank, savings bank, savings and loan association or credit union may conduct a savings promotion in which promotion participants deposit money into a savings account or other savings program in order to obtain entries and participate in the promotion, provided that the bank, savings bank, savings and loan association or credit union:
(1) Conducts the promotion in a manner so as to ensure that each entry has an equal chance of winning the designated prize;
(2) fully discloses the terms and conditions of the promotion to each of its account holders;
(3) maintains records sufficient to facilitate an audit of the promotion;
(4) ensures that only account holders 18 years of age and older are permitted to participate in the promotion;
(5) does not require any consideration; and
(6) offers an interest rate and charges fees on any promotion-qualifying account that are approximately the same as those on a comparable account that does not qualify for the promotion.
(b) (1) The state bank commissioner is authorized to promulgate rules and regulations as necessary to effectuate the provisions of this section pertaining to banks, savings banks and savings and loan associations. Such rules and regulations shall be promulgated by July 1, 2017.
(2) The credit union administrator is authorized to promulgate rules and regulations as necessary to effectuate the provisions of this section pertaining to credit unions. Such rules and regulations shall be promulgated by July 1, 2017.
(3) The state bank commissioner and credit union administrator shall collaborate in order to promulgate rules and regulations affecting account holders that are consistent, other than the type of institution to which they apply.
History:
L. 2016, ch. 54, § 65; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 12 - Banking Code; Transactions › 9-1201 Application.

9-1201. Application.
All of the provisions contained within article 12 of chapter 9 of the Kansas Statutes Annotated, and amendments thereto, shall extend and apply to any national or state chartered bank that has a main office or branch in this state.
History:
L. 1947, ch. 102, § 50; L. 1975, ch. 44, § 22; L. 1989, ch. 48, § 34; L. 2015, ch. 38, § 68; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 12 - Banking Code; Transactions › 9-1204 Deposits of minors.

9-1204. Deposits of minors.
Any bank may receive deposits from minors or in the name of minors and pay the same upon the order of such minors whether or not such minors are emancipated. Payments so made shall discharge the bank from any further liability on the account.
History:
L. 1947, ch. 102, § 53; L. 2015, ch. 38, § 69; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 12 - Banking Code; Transactions › 9-1205 Joint accounts.

9-1205. Joint accounts.
Deposits may be made in the names of two or more persons, including minors, and funds on deposit may be paid to any or all of the joint owners under the terms of the deposit contract. Payment to a joint owner in accordance with the terms of the deposit contract shall be valid and sufficient release and discharge to the bank for any payment so made.
History:
L. 1947, ch. 102, § 54; L. 2015, ch. 38, § 70; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 12 - Banking Code; Transactions › 9-1206 Set off.

9-1206.
Set off.
Any bank shall have the right to set off any obligation or claim which it has, when the same is matured against any depositor.
History:
L. 1947, ch. 102, § 55; June 30.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 12 - Banking Code; Transactions › 9-1207 Adverse claim to deposit.

9-1207. Adverse claim to deposit.
An adverse claim to a bank deposit does not need to be paid out by the bank, unless and until either the:
(a) Person making the claim supplies indemnity deemed adequate by the bank; or
(b) bank is served with process or order issued by a court of competent jurisdiction in an action in which the adverse claimant and the person or persons nominally entitled to the deposit are parties.
History:
L. 1947, ch. 102, § 56; L. 1965, ch. 564, § 400; L. 2015, ch. 38, § 71; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 12 - Banking Code; Transactions › 9-1213 Payment of drafts of failed or closed banks.

9-1213. Payment of drafts of failed or closed banks.
When any drawee bank shall be presented with a draft drawn on the drawee bank in the usual course of business by a drawer bank that has failed or been closed by operation of law or legal action, the drawee bank shall accept and pay such draft regardless of having received notice, constructive or otherwise, of the failure or closing of the drawer bank if the:
(a) Draft was issued prior to the failure or closing of the drawer bank;
(b) drawee bank has, on deposit to the credit of the failed or closed drawer bank, sufficient funds to pay the draft; and
(c) drawee bank has received proof that the draft represents payment of cash letters covering checks that had been charged to the individual accounts of the failed or closed drawer bank prior to the failure or closing of the drawer bank.
History:
L. 1955, ch. 66, § 1; L. 2015, ch. 38, § 72; L. 2016, ch. 54, § 32; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 12 - Banking Code; Transactions › 9-1214 Payment of drafts of failed or closed banks; release from liability.

9-1214. Payment of drafts of failed or closed banks; release from liability.
Any drawee bank paying a draft under the circumstances set out in K.S.A. 9-1213, and amendments thereto, shall be released from any further liability thereon, and shall be fully protected and held harmless from any claim made by the receiver or other liquidating agent of the failed or closed drawer bank for sums representing payments made on the draft.
History:
L. 1955, ch. 66, § 2; L. 2015, ch. 38, § 73; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 13 - Banking Code; Deposit Insurance And Bonds › 9-1301 Deposit insurance; surety bond.

9-1301. Deposit insurance; surety bond.
Every bank operating under the provisions of the state banking code and authorized to receive deposits of money shall insure the deposits of each depositor with the federal deposit insurance corporation, or its successor. State banks may purchase surety bond coverage for the purpose of insuring deposits in excess of the federal deposit insurance corporation's coverage limit.
History:
L. 1947, ch. 102, § 59; L. 1959, ch. 60, § 1; L. 1975, ch. 45, § 2; L. 1981, ch. 54, § 1; L. 1981, ch. 324, § 6; L. 1988, ch. 356, § 38; L. 1989, ch. 48, § 37; L. 2015, ch. 38, § 75; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 13 - Banking Code; Deposit Insurance And Bonds › 9-1302 Subrogation upon payment by insurer of deposits.

9-1302.
Subrogation upon payment by insurer of deposits.
When the federal deposit insurance corporation or its successor or other insurer insuring the deposits of any bank shall pay, or make available for payment, the insured deposit liabilities of any bank the insurance company shall be and become subrogated to the extent of its payments, by operation of law, to all rights of each owner of a claim for deposit against such closed bank to the extent now or hereafter necessary to enable the federal deposit insurance corporation, or its successor or such other insurer, under law to make insurance payments available to depositors of closed insured banks.
History:
L. 1947, ch. 102, § 60; L. 1975, ch. 45, § 4; L. 1989, ch. 48, § 39; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 13 - Banking Code; Deposit Insurance And Bonds › 9-1304 Closed banks may borrow from or sell to federal insurance corporation.

9-1304. Closed banks may borrow from or sell to federal insurance corporation.
(a) Upon the approval of the commissioner, the receiver or liquidator or the board of directors of any bank which may be closed because of the bank's inability to meet the demands of its depositors may borrow from the federal deposit insurance corporation or its successor, and pledge any part or all of the bank's assets as security.
(b) The assets, or any portion thereof, of any bank which may close because of the bank's inability to meet the demands of its depositors may be sold to the federal deposit insurance corporation or its successor upon such terms and conditions as the commissioner shall approve. Nothing contained in this section shall limit the power of any bank, the commissioner or receiver or liquidator thereof to pledge or sell any assets in accordance with other provisions of the state banking code and existing laws.
History:
L. 1947, ch. 102, § 62; L. 1989, ch. 48, § 40; L. 2015, ch. 38, § 76; L. 2016, ch. 54, § 33; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 14 - Banking Code; Deposit Of Public Moneys › 9-1403 Securities for deposits of public funds; exemption during peak deposits.

9-1403. Securities for deposits of public funds; exemption during peak deposits.
(a) During the periods of peak deposits occurring at tax paying time and tax distributing time and continuing for a period of not to exceed 60 continuous days at any given time and not to exceed 120 days in any calendar year the amount of security for the deposits of municipal corporations or quasi-municipal corporations as required under K.S.A. 9-1402, and amendments thereto, may be reduced by up to 50% of the amount on deposit during the peak period.
(b) If the custodian of the funds of each municipal corporation or quasi-municipal corporation together with an officer of the depository bank, savings and loan association or savings bank agree to reduce the amount of security as provided in subsection (a), then the parties shall enter into an agreement which designates in writing the beginning and end of each such period, and a copy thereof, fully executed, shall be kept on file in the office of the governing body of such municipal corporation or quasi-municipal corporation and in the files of such bank, savings and loan association or savings bank.
History:
L. 1947, ch. 102, § 65; L. 1982, ch. 52, § 3; L. 1983, ch. 47, § 4; L. 1986, ch. 76, § 4; L. 1989, ch. 48, § 43; L. 1997, ch. 180, § 5; L. 2015, ch. 38, § 79; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 14 - Banking Code; Deposit Of Public Moneys › 9-1406 Exemption from liability for loss by official depository.

9-1406.
Exemption from liability for loss by official depository.
No public officer nor the sureties upon such officer's bond shall be liable for any loss sustained by the failure or default of any designated depository or depositories after a deposit or deposits have been made in an officially designated bank, savings and loan association or savings bank as provided in this act. This exemption from liability shall apply even though other statutes shall require the furnishing of a bond or other securities by the designated depositories of public moneys. This exemption shall also apply whenever a public officer, municipal corporation or quasi-municipal corporation has acted in good faith to comply with the provisions of this act.
History:
L. 1947, ch. 102, § 68; L. 1983, ch. 47, § 6; L. 1986, ch. 76, § 6; L. 1989, ch. 48, § 45; L. 1997, ch. 180, § 7; L. 2000, ch. 71, § 1; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 14 - Banking Code; Deposit Of Public Moneys › 9-1407 Exemption of security for insured portion of public deposits; reciprocal deposit programs.

9-1407. Exemption of security for insured portion of public deposits; reciprocal deposit programs.
(a) That portion of any deposit of public moneys or funds which is insured by the federal deposit insurance corporation, or its successor, need not be secured as provided in article 14 of chapter 9 of the Kansas Statutes Annotated, and amendments thereto.
(b) Public moneys or funds deposited by a municipal corporation or quasi-municipal corporation in a selected bank, savings and loan association or savings bank which are part of a reciprocal deposit program shall not be treated as securities and need not be secured as provided in article 14 of chapter 9 of the Kansas Statutes Annotated, and amendments thereto, if the:
(1) Bank, savings and loan association or savings bank receives reciprocal deposits from other participating institutions located in the United States in an amount equal to the amount of funds deposited by the municipal corporation or quasi-municipal corporation; and
(2) total cumulative amount of each deposit does not exceed the maximum deposit insurance amount for one depositor at one financial institution as determined by the federal deposit insurance corporation.
History:
L. 1947, ch. 102, § 69; L. 1982, ch. 52, § 5; L. 1997, ch. 180, § 8; L. 2009, ch. 49, § 1; L. 2015, ch. 38, § 81; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 14 - Banking Code; Deposit Of Public Moneys › 9-1408 Definitions.

9-1408. Definitions.
As used in article 14 of chapter 9 of the Kansas Statutes Annotated, and amendments thereto:
(a) "Branch" means any office within this state or another state, other than the main office, that is approved as a branch by a federal or state supervisory agency and at which deposits are received, checks paid or money lent. Branch does not include an automated teller machine, remote service unit or similar device, a loan production office or a deposit production office;
(b) "centralized securities depository" means a clearing agency registered with the securities and exchange commission which provides safekeeping and book-entry settlement services to the agency's participants;
(c) "government unit" means any state, county, municipality or other political subdivision thereof;
(d) "Kansas national bank" means a federally chartered bank which has a main office or branch located in this state;
(e) "Kansas state bank" means a Kansas state chartered bank;
(f) "main office" means the place of business specified in the articles of association, certificate of authority or similar document where the business of the institution is carried on and which is not a branch;
(g) "municipal corporation" or "quasi-municipal corporation" includes each investing governmental unit under K.S.A. 12-1675, and amendments thereto;
(h) "savings and loan association" means any savings and loan association incorporated under the laws of this state or any other state or organized under the laws of the United States and which has a main or branch office in this state;
(i) "savings bank" means any savings bank organized under the laws of the United States and which has a main or branch office in this state; and
(j) "securities," "security entitlements," "financial assets," "securities account," "security agreement," "security interest," "perfection" and "control" shall have the meanings given such terms under the Kansas uniform commercial code.
History:
L. 1997, ch. 180, § 2; L. 2006, ch. 57, § 2; L. 2015, ch. 38, § 82; L. 2016, ch. 54, § 37; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 14 - Banking Code; Deposit Of Public Moneys › 9-1409 Securing deposits of public moneys of out-of-state governmental units; when.

9-1409. Securing deposits of public moneys of out-of-state governmental units; when.
A Kansas state bank may pledge any of the bank's assets as collateral or otherwise secure the deposits of public money for governmental units located in another state where the Kansas state bank has a branch location, so long as such security is given in accordance with the laws of that state.
History:
L. 2015, ch. 38, § 1; July 1.
2023 Kansas Statutes › Chapter 9 - Banks And Banking; Trust Companies › Article 15 - Banking Code; Safe Deposit Box Rental › 9-1501 Authority to keep and maintain safe deposit boxes.

9-1501. Authority to keep and maintain safe deposit boxes.
Any bank, trust company or safe deposit corporation may maintain safe deposit boxes and rent the same for consideration. The bank, trust company or safe deposit corporation shall prescribe the hours of entry into its safe deposit vault and may also retain and require the use of a preparation or guard key for the protection of the bank, trust company or deposit corporation and the user of such box.
History:
L. 1947, ch. 102, § 70; L. 2015, ch. 38, § 83; July 1.