reglab/statecodes huggingface dataset:
Kansas Administrative Regulations › Agency 16 - ATTORNEY GENERAL › Article 19 - VICTIM INFORMATION AND NOTIFICATION EVERYDAY ADVISORY BOARD › Section 16-19-2 - Membership; meetings

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The
			 board is hereby established by this regulation. The board shall consist of the
			 following members appointed by the attorney general:
(1) The VINE coordinator, who shall serve as
			 the chairperson;
(2) a
			 representative of the Kansas sheriffs' association, who shall be appointed in
			 consultation with and agreement of the Kansas sheriffs' association;
(3) a representative from a victim advocacy
			 organization; and
(4) up to two
			 other individuals as deemed necessary by the attorney general.
Kansas Administrative Regulations › Agency 16 - ATTORNEY GENERAL › Article 19 - VICTIM INFORMATION AND NOTIFICATION EVERYDAY ADVISORY BOARD › Section 16-19-3 - Duties

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The board shall
			 make recommendations for the implementation and operation of the VINE system to
			 the attorney general.
(b) To
			 fulfill its duties, the board shall have the authority to perform the
			 following:
(1) Take testimony or gather and
			 receive information;
(2) establish
			 subcommittees or working groups on particular topics, which may be composed
			 exclusively of members of the board or may, at the discretion of the
			 chairperson, include persons who are not members of the board;
(3) coordinate and engage in activities for
			 education, outreach, and awareness of the services provided through the VINE
			 system; and
(4) undertake any other
			 tasks as may be requested by the attorney general.
Kansas Administrative Regulations › Agency 16 - ATTORNEY GENERAL › Article 20 - KANSAS OPEN MEETINGS ACT › Section 16-20-1 - Compliance with the Kansas open meetings act during an emergency declaration

Current through Register Vol. 43, No. 28, July 11, 2024
(a) This regulation
			 shall be in effect only as follows:
(1)
			 During a state of disaster emergency lawfully declared by the governor pursuant
			 to
			 K.S.A.
			 48-924(a) through (c), and
			 amendments thereto, or other emergency declaration lawfully declared pursuant
			 to applicable emergency-powers provisions of local, state, or federal law;
(2) in the territory affected by
			 any such declaration; and
(3) to
			 the extent that emergency responses required pursuant to any such declaration
			 prevent or impede the ability of any of the following:
(A) Members of a public body or agency
			 subject to the Kansas open meetings act,
			 K.S.A.
			 75-4317 et seq. and amendments thereto, to
			 conduct meetings by physically gathering in person;
(B) members of the public to attend or
			 observe public meetings by physically attending the meetings; or
(C) a combination of both paragraph (a)(3)(A)
			 and paragraph (a)(3)(B).
Kansas Administrative Regulations › Agency 16 - ATTORNEY GENERAL › Article 21 - HUMAN TRAFFICKING › Section 16-21-1 - Specifications for anti-human trafficking notices

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The
			 notice required by K.S.A. 75-759, and amendments thereto, shall contain the
			 written information and the graphic in the Kansas attorney general's document
			 titled "anti-human trafficking notice requirements for   K.A.R. 16-21-1, : dated
			 January 31, 2022 and hereby adopted by reference.
(b) Each notice shall be at least 8.5 x 11
			 and shall be legible. Each notice that becomes illegible shall be replaced
			 immediately.
(c) A notice that
			 meets the requirements of this regulation may be obtained by contacting the
			 office of the Kansas attorney general or may be reproduced from the web site of
			 the office of the Kansas attorney general. (Authorized by and implementing
			 K.S.A. 2021 Supp. 75-759; effective July 8, 2022.)
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 8 - FINANCIAL MODERNIZATION › Section 17-8-1 - Financial subsidiaries

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Before
			 acquiring an interest in a financial subsidiary pursuant to
			 K.S.A.
			 9-1101(29), and amendments
			 thereto, or engaging in a new activity in an existing financial subsidiary of
			 the bank, the bank shall provide a written notice to the commissioner that
			 contains the following information:
(1) If
			 acquiring an interest in a financial subsidiary, a description of the
			 transactions through which the bank proposes to acquire control of, or an
			 interest in, the financial subsidiary, and the percentage of ownership
			 proposed;
(2) the name and main
			 office address of the financial subsidiary;
(3) a description of the current and proposed
			 activities of the financial subsidiary; and
(4) if the proposal relates to an initial
			 affiliation with a company engaged in insurance activities, a description of
			 the type of insurance activities that the company is engaged in or plans to
			 conduct, the name of each state where the company holds an insurance license,
			 and the name of the state insurance regulatory authority that issued the
			 license.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-1 - Investment securities; definitions

Current through Register Vol. 43, No. 28, July 11, 2024
For the purposes of K.S.A. 1995 Supp.
				9-1101(6) and this
				article:
(a) "investment security"
			 means an investment made for the account of the bank which is a marketable
			 obligation evidencing indebtedness in the form of a bond, note, or debenture,
			 commonly known as an investment security. The term shall not include, and
			 nothing in this article shall be construed as permitting a bank to purchase,
			 investments which are predominantly speculative in nature or which are in
			 default as to principal and interest; and
(b) "marketable obligation" means an
			 investment that:
(1) may be sold with
			 reasonable promptness at a readily determinable price which corresponds
			 reasonably to its fair value; and
(2) is supported by adequate evidence that
			 the obligor will be able to perform all obligations in connection with the
			 security including the ability to meet all debt service requirements.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-2 - Investment securities; limitation

Current through Register Vol. 43, No. 28, July 11, 2024
The percentage limitations contained in K.S.A. 1995 Supp.
				9-1101(6) shall be
				determined on the basis of the par or face value, or cost of the security,
				whichever is less, and not on the market value.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-3 - Investment securities; ledger and records

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The bank
			 shall maintain a central listing showing the following for each investment
			 security:
(1) par value;
(2) cost;
(3) interest rate;
(4) purchase and maturity dates; and
(5) name of the issuer.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-4 - Investment securities; amortization of premium

Current through Register Vol. 43, No. 28, July 11, 2024
A bank shall not purchase an investment security for its own
				account at a price exceeding par unless the bank provides for the regular
				amortization of the premium paid in accordance with generally accepted
				accounting principles (GAAP).
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-5 - Investment securities; conversion

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The
			 purchase of investment securities convertible into stock at the option of the
			 issuer shall be prohibited.
(b) A
			 bank may purchase investment securities convertible into stock at the option of
			 the holder or with stock purchase warrants attached if it is apparent that the
			 price paid for an otherwise eligible security fairly reflects the investment
			 value of the security itself and does not include any speculative value based
			 upon the presence of a stock purchase warrant or conversion option.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-6 - Investment securities; acquisition through debt previously contracted

Current through Register Vol. 43, No. 28, July 11, 2024
The restrictions and limitations contained in article 9 of
				these regulations shall not apply to investment securities acquired:
(a) through foreclosure on collateral;
(b) in good faith by way of
			 compromise of a doubtful claim; or
(c) to avoid loss in connection with a debt
			 previously contracted.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-7 - Investment securities; repurchase

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Subject to
			 the limitation in subsection (b) of this regulation, a bank may purchase and
			 sell investment securities under a repurchase agreement if one or more of the
			 following provisions is part of the repurchase agreement:
(1) the bank has the option or right to
			 require the seller of the securities to repurchase them from the bank at a
			 price stated in the agreement, or at a price subject to determination under the
			 terms of the agreement, but in no case less than the value at the time of the
			 repurchase;
(2) the seller or the
			 seller's nominee reserves the right or the option to repurchase the securities
			 for a price stated or at a price subject to determination under the terms of
			 the agreement, but in no case shall the option be for an amount less than the
			 value at the time of the initial purchase;
(3) the bank selling securities has an option
			 or right to repurchase the securities from the buyer at a price stated or at a
			 price subject to determination under the terms of the agreement; or
(4) the seller or a third party guarantees
			 the bank against loss on resale of the securities.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-8 - Investment securities; trustees

Current through Register Vol. 43, No. 28, July 11, 2024
Where the investment security is issued under a trust
				agreement, the agreement shall provide for a trustee independent of the
				obligor. The trustee shall be a bank or trust company.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 9 - INVESTMENT SECURITIES › Section 17-9-10 - Investment securities; requests for rulings

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Any bank
			 may request a determination by the commissioner whether a security which the
			 bank holds or desires to purchase for its own account qualifies as an
			 investment se-curity.
(b) Any
			 request shall be accompanied by information sufficient to enable the
			 commissioner to make a determination.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-13 - Stockholders' meetings

Current through Register Vol. 43, No. 28, July 11, 2024
Minutes shall be made of each stockholders' meeting of a bank
				or trust company. The minutes shall show any action taken by the stockholders,
				including the election of all directors.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-14 - Directors' meetings

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Min-utes
			 shall be made of each directors' meeting of a bank or trust company. The
			 minutes shall show any action taken by the directors.
(b) In addition to any other actions the
			 board may take, the following specific actions shall be taken by the board of
			 directors and noted in the minutes:
(1)
			 Election of all officers, showing their titles, salaries, and bonuses, if any;
(2) 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;
(3) review and approval of the directors'
			 examination or audit required under
			 K.S.A.
			 9-1116, and amendments thereto;
(4) annual approval of all bank policies;
(5) review of all state and
			 federal regulatory examination reports received since the board's last meeting;
(6) annual approval of fidelity
			 bond and bank casualty insurance;
(7) approval of bank income and expenses and
			 securities transactions;
(8)
			 review and ratification of any committee reports; and
(9) approval of dividends and a review that
			 the dividends are in compliance with
			 K.S.A.
			 9-910, and amendments thereto.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-15 - Loans; records

Current through Register Vol. 43, No. 28, July 11, 2024
Each bank or trust company shall maintain a central listing
				which shows the following:
(a) the
			 indebtedness of each borrower;
(b)
			 the note number;
(c) the
			 origination date of the loan;
(d)
			 the amount; and
(e) the maturity
			 date.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-16 - Bonds; records

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each bank
			 or trust company shall maintain a central listing showing the following for
			 each bond:
(1) par value;
(2) cost;
(3) interest rate;
(4) purchase date;
(5) maturity date; and
(6) name of the issuer.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-17 - Bank-owned real estate; records

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each bank
			 or trust company shall maintain the following records for real estate owned by
			 the bank or trust company:
(1) the insurance
			 coverage on the real estate, including the amount of insurance and the
			 expiration date;
(2) the legal
			 description of the property;
(3)
			 the cost of alterations; and
(4)
			 proof of the payment of real estate taxes.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-18 - Loans; documentation requirements

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Except as specified in this subsection,
			 each bank shall maintain complete and current credit information, not older
			 than 15 months, for each borrower if the total amount of the following is
			 greater than $250,000:
(1) All loans made to
			 the borrower; and
(2) all loans
			 attributable to the borrower pursuant to
			 K.S.A.
			 9-1104, and amendments thereto.
This subsection shall not apply if all loans made or
				attributable to the borrower are adequately secured.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-19 - Charged-off assets; records

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each bank
			 or trust company shall maintain a central listing of any assets charged off the
			 books of the bank or trust company. The central listing shall include a
			 subsidiary ledger for each debtor, showing the date of charge-off, the
			 description of the asset, the amount charged off, and any recoveries.
(b) The bank or trust company
			 shall retain the central listing for 10 years after the last payment is
			 received, or 10 years after the date of the charge-off if no payments have been
			 received.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-21 - Appraisals and evaluations

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Except for
			 those transactions that meet the requirements of subsection (b) or (c), an
			 accurate appraisal of all real estate mortgaged to secure principal debt of
			 $25,000 or more to a bank shall be made by an appraiser who is licensed or
			 certified by the state in which the property is located and who is independent
			 of the transaction.
(b) Two
			 officers or directors, or a qualified individual who is independent of the
			 transaction, may complete an accurate evaluation of real estate mortgaged in
			 the following types of real estate-related transactions:
(1) Real estate mortgaged to secure principal
			 debt of $250,000 or less;
(2)
			 business loans of $1 million or less secured by real estate, if the primary
			 source of repayment is not dependent upon the sale of, or rental income from,
			 the real estate; or
(3) renewals or
			 refinancing of loans, in any amount, secured by real estate, if either of the
			 following conditions is met:
(A) There is no
			 advancement of new monies other than funds necessary to cover reasonable
			 closing costs; or
(B) there has
			 been no obvious and material change in market conditions or physical aspects of
			 the property that affects the adequacy of the real estate collateral or the
			 validity of an existing appraisal, even with the advancement of new
			 monies.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-22 - Insurance on Bank Property

Current through Register Vol. 43, No. 28, July 11, 2024
The insurable tangible property of a bank or trust company
				shall be insured for at least seventy per cent of its actual value against loss
				from fire, windstorm and tornado.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-23 - Other assets; records

Current through Register Vol. 43, No. 28, July 11, 2024
Each bank or trust company shall maintain a central listing
				showing the following on any personal property taken in payment of a debt:
(a) a complete description of the
			 property;
(b) the date of
			 acquisition;
(c) the name of the
			 original debtor;
(d) the total
			 amount of indebtedness for which the personal property was acquired; and
(e) the cost of acquisition.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 11 - DOCUMENTATION REQUIREMENTS › Section 17-11-24 - Sale of tangible personal property to bank or trust company executive officers, employees, directors, and related interests.

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The commissioner's approval shall not be
			 required if a bank or trust company sells tangible personal property held on
			 the bank's or trust company's accounting books to an executive officer,
			 employee, director, or a related interest under either of the following
			 conditions:
(1) If the tangible personal
			 property has a vehicle identification number or a hull identification number,
			 at a price at or above the average trade-in value specified by a nationally
			 recognized value-reporting service; or
(2) if the tangible personal property does
			 not have a vehicle identification number or a hull identification number, at a
			 price at or above the accounting book value calculated in accordance with
			 generally accepted accounting principles.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 12 - TRANSACTIONS › Section 17-12-1 - Daily transactions

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each
			 transaction affecting the assets, liabilities, or fiduciary assets held by the
			 bank or trust company shall be shown in detail.
(b) The books and records shall be designed
			 to allow the tracing of any transaction from origin to final entry.
(c) Books and records shall be posted daily
			 covering all transactions for the preceding day, except for the final entries
			 which are made at some other regular stated interval.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 12 - TRANSACTIONS › Section 17-12-2 - Daily statement

Current through Register Vol. 43, No. 28, July 11, 2024
A summary of all transactions showing the assets, liabilities
				and net worth of the bank or trust company shall be prepared daily for each
				bookkeeping day and kept on file at the bank or trust company. Additionally, a
				summary of all transactions relating to fiduciary assets shall be prepared at
				least monthly and kept on file at the bank or trust company.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 14 - DEPOSIT OF PUBLIC FUNDS; REVENUE BOND APPROVAL › Section 17-14-1 - Revenue bonds; approval

Current through Register Vol. 43, No. 28, July 11, 2024
The commissioner may approve, as security for the deposit of
				public funds pursuant to
				K.S.A.
				9-1402, revenue bonds of any municipal
				corporation or quasi-municipal corporation, except for bonds issued under
				K.S.A.
				12-1740 to
				12-1749 and bonds secured by
				revenues of a utility which has been in operation for less than three years.
				Revenue bonds may be approved subject to the following conditions:
(a) Such bonds shall be issued pursuant to
			 the laws of Kansas, and the commissioner shall be furnished a copy of the
			 approving legal opinion of a recognized bond attorney.
(b) The rates, fees or charges fixed for the
			 use of services rendered by a utility (as defined by
			 K.S.A.
			 10-1201 ) shall be sufficient to:
(1) pay the cost of operation, improvement,
			 and maintenance of the utility;
(2) provide an adequate depreciation fund;
			 and
(3) pay the principal of and
			 interest upon the bonds when due.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 16 - CHARTER APPLICATIONS › Section 17-16-1 - Application; filing

Current through Register Vol. 43, No. 28, July 11, 2024
(a) An
			 application for a certificate of authority and any supplemental information
			 shall be filed by submitting an original and nine copies to the office of the
			 state bank commissioner.
Charter Applications
(b) The application shall be filed at least
			 14 calendar days before the board's regular meeting date in order to be
			 included on the agenda for that meeting.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 16 - CHARTER APPLICATIONS › Section 17-16-2 - Application; contents

Current through Register Vol. 43, No. 28, July 11, 2024
Each application for a certificate of authority shall contain
				the following information:
(a) The
			 name and address of the proposed bank or trust company;
(b) the names and addresses of the
			 organizers, proposed officers, proposed directors, and shareholders of the
			 proposed bank or trust company;
(c) a detailed financial statement for the
			 organizers, proposed officers, and proposed directors, and for any individual
			 shareholder or group of proposed shareholders acting in concert that will own
			 or control 10% or more of the stock of the proposed bank or trust company. The
			 financial information shall be fewer than 90 days old and shall be certified by
			 the owners;
(d) a statement of the
			 character, qualifications, and experience of the organizers, proposed officers,
			 and proposed directors, and of any individual shareholder or group of proposed
			 shareholders acting in concert that will own or control 10% or more of the
			 stock of the proposed bank or trust company, including the number and type of
			 any criminal convictions;
(e) a
			 statement of fact by the applicant to support a finding of public need for the
			 proposed bank or trust company in the community where it will be located;
(f) a list of the names and
			 addresses of each state bank, national bank, savings and loan association,
			 credit union or trust company, and their branches, located within a radius of
			 25 miles of the site of the proposed bank or trust company. If the proposed
			 bank or trust company is to be located in a metropolitan area with a population
			 of 100,000 or more, as defined by the office of the state bank commissioner,
			 the listing required by this subsection may, at the discretion of the
			 commissioner, be limited to a five-mile radius of the site of the proposed bank
			 or trust company; and
(g) an
			 affidavit of publication of notice that the applicant intends to file an
			 application for a certificate of authority. The notice shall meet the following
			 requirements:
(1) Be published in a newspaper
			 of general circulation in the city where the proposed bank or trust company is
			 to be located, or if there is no such official newspaper, in an official
			 newspaper for the county in which the city is located;
(2) be in the form prescribed by the board;
(3) be published on the same day
			 for two consecutive weeks, with the second publication appearing at least 14
			 calendar days before any action taken by the board; and
(4) contain a statement that any interested
			 party may submit, in writing, comments in support of or opposition to the
			 application. Any comment letter of support or opposition shall be filed with
			 the office of the state bank commissioner not later than 10 calendar days after
			 the second publication.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 16 - CHARTER APPLICATIONS › Section 17-16-4 - Comment letters; notification of the applicant

Current through Register Vol. 43, No. 28, July 11, 2024
The applicant shall be notified of the receipt of any comment
				letters and furnished a copy of those letters. The applicant may provide a
				written response to the board regarding any comment letters within 10 calendar
				days following the date the applicant was furnished copies of the comment
				letters.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 16 - CHARTER APPLICATIONS › Section 17-16-9 - Application; consideration by the board

Current through Register Vol. 43, No. 28, July 11, 2024
(a) After
			 considering the application, including any comment letters and the applicant's
			 response to comment letters, the board shall determine whether to approve or
			 deny the applica-tion.
(b) The
			 state banking board shall not be required to make any determination unless the
			 board has had at least 10 calendar days to consider any comment letters or the
			 applicant's response to such letters.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-1 - Limitation on engaging in futures

Current through Register Vol. 43, No. 28, July 11, 2024
A bank's authority to engage in financial futures contracts,
				pursuant to K.S.A. 1995 Supp.
				9-1101 shall be limited to using
				the contracts as a hedge.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-2 - Definitions

Current through Register Vol. 43, No. 28, July 11, 2024
As used in this article:
(a) "contract" means a financial futures
			 contract; and
(b) "hedging" means
			 a purchase or sale made as protection against a known risk and not primarily
			 for income or profit.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-3 - Adoption of policy by bank

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The board
			 of directors shall establish a written policy to engage in financial futures
			 contracts. Policy objectives and limitations shall be specific enough to
			 outline permissible contract strategies and their relationship to other banking
			 activities.
(b) Record keeping
			 systems shall be sufficiently detailed to permit internal auditors and
			 examiners to determine whether operating personnel have acted in accordance
			 with authorized objectives.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-4 - Notice to commissioner

Current through Register Vol. 43, No. 28, July 11, 2024
A bank shall notify the commissioner of the bank's intention to
				engage in financial futures contracts before commencement of the activity. The
				bank shall include the following information in the notice:
(a) a copy of the written policy of the bank,
			 established by the board of directors, pursuant to K.A.R. 17-17-3;
(b) the background and experience of all
			 persons authorized to buy and sell contracts;
(c) the trading limits to be imposed upon all
			 persons authorized to buy and sell contracts;
(d) the conditions, if any, which permit
			 deviations from trading limits;
(e) the bank personnel responsible for
			 authorizing any deviations in trading limits;
(f) the procedures developed to prevent
			 unauthorized trading;
(g) copies
			 of forms, in blank, which inform management of the daily contract activity; and
(h) copies of internal record
			 keeping forms, in blank, which reflect the bank's daily contract activity with
			 regard to:
(1) the maturity of each
			 outstanding contract and the type and value of the corresponding cash
			 transaction;
(2) the maturity date
			 of each contract;
(3) the current
			 market price and value of each contract;
(4) the outstanding gross futures position;
(5) the open position;
(6) the amount of money held in margin
			 accounts;
(7) any maturity gaps
			 existing between the maturity date of the contract and the completion dates of
			 the corresponding cash transaction;
(8) the profit or loss for each corresponding
			 cash and futures transaction;
(9)
			 the aggregate profit or loss for all relevant cash and futures transactions;
			 and
(10) the type and amount of
			 each expected cash transaction that did not materialize.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-5 - Monthly review of contracts

Current through Register Vol. 43, No. 28, July 11, 2024
The board of directors, a duly authorized committee or the
				bank's internal auditors shall review financial futures contract positions on a
				monthly basis to ascertain conformance with the bank's written policy.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-6 - Maintenance of ledger accounts or registers

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each bank
			 engaging in financial futures contracts shall maintain general ledger
			 memorandum accounts or commitment registers to adequately identify and control
			 all commitments to make or take delivery of securities.
(b) The bank's registers and supporting
			 journals shall, at a minimum, include the following:
(1) the type, whether the position is long or
			 short, and the amount of each contract;
(2) the maturity date of each contract;
(3) the current market price and
			 cost of each contract;
(4) the
			 amount of money held in margin accounts; and
(5) an identification of the asset or
			 liability being hedged.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-7 - Review of contracts; market valuation

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Except for
			 financial futures contracts described in K.A.R. 17-17-8, the bank shall review
			 each open position and shall determine the market value at least monthly,
			 regardless of whether the bank is required to deposit margin in connection with
			 a given contract.
(b) The bank
			 shall value each contract on the basis of either market or the lower of cost or
			 market, at the option of the bank.
(1) The
			 bank shall recognize any losses resulting from monthly contract valuation as a
			 current expense item. Any bank that values contracts on a market basis shall
			 recognize gains as current income items.
(2) In the event the above described
			 contracts result in the acquisition of securities, the bank shall record these
			 securities on a basis consistent with that applied to the contracts, meaning
			 either market or the lower of cost or market.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-8 - Hedging of mortgage banking operations

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The bank
			 shall account for financial futures contracts associated with bona fide hedging
			 of mortgage banking operations in accordance with generally accepted accounting
			 principles applicable to the activity.
(b) As used in this regulation, "contracts
			 associated with bona fide hedging of mortgage banking operations" means the
			 origination and purchase of mortgage loans for resale to investors or the
			 issuance of mortgage-backed securities.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-9 - Effect on bank's financial condition

Current through Register Vol. 43, No. 28, July 11, 2024
The financial reports of any bank engaging in financial futures
				contracts shall disclose in an explanatory note any financial futures contract
				activity that materially affects the bank's financial condition.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 17 - FINANCIAL FUTURES CONTRACTS › Section 17-17-10 - Internal controls; reporting

Current through Register Vol. 43, No. 28, July 11, 2024
To assure adherence to bank policy and prevent unauthorized
				trading and other abuses, each bank engaging in financial futures contracts
				shall establish internal controls including monthly reports to management,
				segregation of duties, and internal audit programs.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 19 - BANK SUBSIDIARIES ENGAGED IN SECURITIES ACTIVITIES › Section 17-19-1 - Organization; application approval

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Prior to
			 its organization to engage in securities activities in this state, each bank
			 subsidiary shall make application to and obtain approval from the state bank
			 commissioner and the state banking board. Each application shall contain all
			 required information as prescribed by the commissioner and the state banking
			 board.
(b) Upon filing an
			 application to form a bank subsidiary to engage in securities activities, the
			 following criteria shall be considered by the commissioner and the state
			 banking board prior to granting authority:
(1) the financial standing, general business
			 experience and character of the organizers and incorporators;
(2) the character, qualifications and
			 experience of the officers of the proposed bank subsidiary;
(3) the public need for the proposed bank
			 subsidiary;
(4) the prospects for
			 success of the proposed bank subsidiary; and
(5) any other factors the commissioner or the
			 state banking board deems relevant to the applicant.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 19 - BANK SUBSIDIARIES ENGAGED IN SECURITIES ACTIVITIES › Section 17-19-2 - Registration and licensing; violations; examination

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Prior to
			 engaging in securities activities, each bank subsidiary shall comply with
			 registration and licensing requirements of the appropriate federal and state
			 securities regulatory agencies. Each bank subsidiary shall maintain on file
			 with the Kansas banking department copies of all required registration
			 documents, together with copies of each license or registration documents
			 issued to the bank subsidiary by each regulatory agency.
(b) Any application may be denied or
			 authority revoked for any bank to own, hold or otherwise operate a bank
			 subsidiary engaged in securities activities upon notification of any violation
			 of federal or state securities laws or regulations.
(c) Any denial of an application or
			 revocation of authority for a bank to own, hold or otherwise operate a bank
			 subsidiary engaged in securities activities shall be made by the commissioner,
			 subject to confirmation by the state banking board.
(d) Each bank subsidiary found to be in
			 violation of any federal or state securities law or regulation shall notify the
			 commissioner of each violation within 10 days of such finding. Each notice
			 shall include all material facts surrounding such violation including:
(1) identification of parties involved;
(2) date of violation;
(3) nature of violation; and
(4) penalties assessed.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 19 - BANK SUBSIDIARIES ENGAGED IN SECURITIES ACTIVITIES › Section 17-19-3 - Wholly-owned subsidiary; leasing; employees; office location

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each bank
			 subsidiary engaged in securities activities shall be a wholly-owned subsidiary
			 of the parent bank.
(b) Any parent
			 bank may lease or sell office space to its subsidiary engaged in securities
			 activities; provided the lease or sale is of a bona fide nature and represents
			 a fair market value in the community market place. Office space leased or sold
			 by a parent bank to its subsidiary engaged in securities activities shall be
			 separate and distinct from the office space of the parent bank.
(c) Each bank subsidiary engaged in
			 securities activities may employ parent bank employees provided those employees
			 are fairly compensated by the bank subsidiary.
(d) Each bank subsidiary engaged in
			 securities activities shall locate no office outside the state of Kansas unless
			 the prior approval of the bank commissioner and the state banking board is
			 obtained.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 19 - BANK SUBSIDIARIES ENGAGED IN SECURITIES ACTIVITIES › Section 17-19-4 - Capital; lending limit

Current through Register Vol. 43, No. 28, July 11, 2024
The aggregate of unsecured loans and capital investments to
				each bank subsidiary by each parent bank shall not exceed 15 percent of the
				total amount of capital stock paid in and unimpaired and the unimpaired surplus
				fund of the parent bank.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 20 - EMPLOYMENT › Section 17-20-1 - Employment; security background check

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each Deputy
			 Commissioner, Special Assistant or other employee necessary to properly
			 discharge the duties of the office shall submit to a security background check
			 prior to being employed in such position.
(b) Upon the commencement of the interview
			 process, every candidate shall be given written notice that a security
			 background check is required.
(c)
			 The security background check shall be limited to criminal history record
			 information as provided by
			 K.S.A.
			 22-4701 et seq. and amendments thereto.
(d) If the criminal history record
			 information reveals convictions of crimes of dishonesty, such conviction(s) may
			 be used to disqualify a candidate for any position within the Office of the
			 State Bank Commissioner.
(e) If
			 the criminal history record information is used to disqualify a candidate, the
			 candidate shall be informed in writing of that decision.
(f) Upon determining whether to hire or
			 disqualify a candidate, the candidate's criminal history record information
			 report shall be destroyed. The candidate's personnel file shall only contain a
			 statement that a security background check was performed and the date thereof.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 21 - BANK HOLDING COMPANIES; APPLICATION FOR THE ACQUISITION OF A KANSAS BANK OR BANK HOLDING COMPANY › Section 17-21-1 - Definitions

Current through Register Vol. 43, No. 28, July 11, 2024
For purposes of this article, the terms used shall have the
				meanings attributed to them by K.S.A. 1995 Supp.
				9-519 and K.S.A. 1995 Supp.
				9-701.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 21 - BANK HOLDING COMPANIES; APPLICATION FOR THE ACQUISITION OF A KANSAS BANK OR BANK HOLDING COMPANY › Section 17-21-2 - Application

Current through Register Vol. 43, No. 28, July 11, 2024
(a) With the
			 approval of the commissioner, any bank holding company may acquire control of
			 one or more Kansas banks or Kansas bank holding companies.
(b) A bank holding company shall be deemed to
			 be acquiring control of a Kansas bank or Kansas bank holding company if, as a
			 result of the proposed acquisition:
(1) the
			 company, directly or indirectly or acting through one or more persons, will
			 own, control or have the power to vote 25 percent or more of any class of
			 voting securities of a Kansas bank or Kansas bank holding company:
(2) the company will control in any manner
			 the election of a majority of the directors or trustees of a Kansas bank or
			 Kansas bank holding company; or
(3) the commissioner determines that the
			 company directly or indirectly will exercise a controlling influence over
			 management or policies of a Kansas bank or Kansas bank holding company.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 21 - BANK HOLDING COMPANIES; APPLICATION FOR THE ACQUISITION OF A KANSAS BANK OR BANK HOLDING COMPANY › Section 17-21-3 - Contents of application

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each
			 applicant shall respond accurately and fully to all questions contained in the
			 application form provided by the commissioner.
(b) Upon submitting an application, each
			 applicant shall provide the commissioner with the following additional
			 information:
(1) a statement by the applicant
			 demonstrating that the proposed acquisition is in the interest of the public
			 and of the depositors and creditors of the bank to be acquired or any bank
			 subsidiaries of the bank holding company to be acquired;
(2) a copy of all cease and desist orders,
			 memorandums of understanding or other formal or informal actions taken by any
			 federal or state regulator, under which the applicant or any of the applicant's
			 subsidiaries or affiliates has operated within the 18 months preceding the
			 application;
(3) a copy of the
			 most recent regulatory examination of any bank or trust company subsidiary or
			 affiliate of the applicant if a composite rating of "3," "4," or "5" was
			 received;
(4) a copy of the most
			 recent report of examination of the bank holding company prepared by the
			 federal reserve bank or the applicant's state regulator. If the commissioner is
			 not satisfied that the information provided gives adequate assurance that the
			 bank or banks to be acquired will be operated safely and soundly, the
			 commissioner may conduct an examination of the applicant or any of its
			 subsidiaries or affiliates for the purpose of augmenting such information. The
			 applicant shall bear the cost of any examination;
(5) all information required by K.S.A. 1995
			 Supp. 9-1722; and
(6) an analysis demonstrating that the
			 acquisition will not cause the applicant to exceed limitations imposed by
			 K.S.A. 1995 Supp.
			 9-520(a) regarding
			 concentrations of deposits.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 21 - BANK HOLDING COMPANIES; APPLICATION FOR THE ACQUISITION OF A KANSAS BANK OR BANK HOLDING COMPANY › Section 17-21-4 - Filing of application

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Within 14
			 calendar days of the date any agreement to purchase a bank or bank holding
			 company is entered into, a notice of intent to submit an application pursuant
			 to K.S.A. 1995 Supp.
			 9-532 shall be filed with the
			 commissioner.
(b) The application
			 shall be filed within 90 calendar days after an agreement has been entered
			 into. At the discretion of the commissioner, failure to file an application
			 within 90 calendar days may be grounds for rejection of the application.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 21 - BANK HOLDING COMPANIES; APPLICATION FOR THE ACQUISITION OF A KANSAS BANK OR BANK HOLDING COMPANY › Section 17-21-5 - When complete

Current through Register Vol. 43, No. 28, July 11, 2024
An application filed pursuant to
				K.S.A.
				9-532 shall be complete when:
(a) the materials described in K.S.A. 1995
			 Supp. 9-533, K.S.A. 1995 Supp.
			 9-536 and K.A.R. 17-21-3 have been
			 filed with the commissioner; and
(b) the board of governors of the federal
			 reserve system or the appropriate federal reserve bank acting on delegated
			 authority, and the commissioner have determined that no further information
			 shall be required to complete the application.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 21 - BANK HOLDING COMPANIES; APPLICATION FOR THE ACQUISITION OF A KANSAS BANK OR BANK HOLDING COMPANY › Section 17-21-6 - Concurrent jurisdiction

Current through Register Vol. 43, No. 28, July 11, 2024
(a)
			 Examinations of the applicant, its subsidiaries and its affiliates may be
			 conducted by the commissioner. The applicant shall bear the cost of an
			 examina-tion.
(b) The applicant's
			 state and federal regulators may be provided with copies of reports of
			 examinations and other information compiled by the commissioner.
Kansas Administrative Regulations › Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER › Article 21 - BANK HOLDING COMPANIES; APPLICATION FOR THE ACQUISITION OF A KANSAS BANK OR BANK HOLDING COMPANY › Section 17-21-8 - Application; request for additional information

Current through Register Vol. 43, No. 28, July 11, 2024
An application filed pursuant to K.S.A. 1995 Supp.
				9-532 may be returned by the
				commissioner if the applicant does not respond in writing within 20 calendar
				days of a written request by the commissioner for additional information. If
				the commissioner returns the application, the application shall be deemed
				withdrawn and the applicant shall forfeit the filing fee.