17-2244. Authority to operate in same activities as other federally insured credit unions; powers of administrator; report to legislature. (a) In addition to any and all other powers granted to the credit union administrator, the administrator shall have the power to authorize any credit union to engage in any activity in which such credit union could engage were they operating as a federally insured credit union at the time such authority is granted, including but not by way of limitation because of enumeration, the power to do any act, and own, possess and carry as assets, property of such character including stocks, bonds or other debentures which, at the time such authority is granted, are authorized under applicable laws and regulations for transactions by federally insured credit unions notwithstanding any restrictions elsewhere contained in the statutes of the state of Kansas. Upon receipt of a written request from any state chartered credit union, the administrator shall exercise such power by the issuance of a special order therefor if the administrator deems it reasonably required to preserve and protect the welfare of such an institution and promote the general economy of this state. The issuance of such special orders shall not be subject to the provisions of article 4 of chapter 77 of the Kansas Statutes Annotated, and amendments thereto.
(b) The administrator shall, at the time of issuing any special order pursuant to this section, submit a written report thereof to the president and the minority leader of the senate and to the speaker and the minority leader of the house of representatives and the credit union council.
History: L. 1969, ch. 126, § 1; L. 1980, ch. 48, § 2; L. 1982, ch. 103, § 5; L. 1992, ch. 225, § 22; L. 2005, ch. 36, § 3; July 1.
Structure Kansas Statutes
17-2203 Use of name; penalty for unauthorized use.
17-2204 Powers of credit unions.
17-2204a Investments; limitations; definition of credit union services organization.
17-2205 Credit unions, fields of membership. [See Revisor's Note]
17-2206 Supervision and powers of administrator; reports, fines; examination, fees.
17-2207 Fiscal year; meetings.
17-2208 Officers; board of directors; committees; suspension of members, when.
17-2209 Directors to elect officers; duties of board; executive committee.
17-2210 Method of making loans.
17-2215 Power to borrow money; limitations.
17-2215a Power of corporate credit unions to borrow increased by amount of certain investments.
17-2216 Loans to members; limitations.
17-2216a Loans to directors or members of credit or supervisory committees; conditions.
17-2217 Reserve income; payments into reserve fund; rules and regulations.
17-2219 Expulsion of members, when; policy, notice; withdrawal of member from credit union.
17-2221 Change in place of business; how accomplished.
17-2221a Credit union branches; procedure.
17-2222 Conversion from state to federal credit union.
17-2230 Voluntary and involuntary dissolution; appointment of agent; liquidation procedure.
17-2232 Credit union council; membership, appointment, terms; meetings.
17-2233 Credit union administrator; appointment, duties, salary, expenses and term.
17-2234 Department of credit unions; supervision; employees; attorney; security background check.
17-2235 Credit union council's compensation and expenses.
17-2237 Transfer of jurisdiction and records.
17-2238 Continuity of previously organized credit unions.
17-2239 Continuity of proceedings.
17-2240 Housing of department.
17-2246 Share insurance required.
17-2260 Rules and regulations.
17-2264 Same; duties of credit union; release and discharge thereof.
17-2268 Personal liability of officers and directors, exceptions.