17-2332. Same; membership of organization; limitation and apportionment of loans by members; withdrawal. The members of the corporation shall consist of such banks, banking institutions and insurance companies within the state as may make application to this corporation to lend funds to it upon call and up to the limit herein provided. Each member shall lend funds to this corporation as and when called upon by it to do so, but the total amount on loan by any member at any one time shall not exceed the following limit, to be determined as of the time of it becoming a member: For commercial banks and trust companies, three percent (3%) of capital and surplus; and comparable limits for other banking institutions. All loan limits shall be established as the thousand dollars amount nearest to the amount computed on an actual basis. All calls when made by this corporation shall be prorated among the members of the same proportion that the maximum lending limit of each bears to the aggregate maximum lending limit of all members. Upon notice given one (1) year in advance a member of the corporation may withdraw from membership in the corporation at the expiration date of such notice and from said expiration date shall be free from obligations hereunder except as to those accrued prior to said expiration date.
History: L. 1955, ch. 144, ยง 5; June 30.
Structure Kansas Statutes
Article 23 - Development Credit Corporations; Housing Laws
17-2328 Organizations to provide development credit; creation.
17-2329 Same; purposes and powers.
17-2331 Same; directors; election; removal; vacancies; oaths.
17-2334 Same; restrictions on deposits.
17-2335 Same; supervision by bank commissioner.
17-2338 Legislative findings; declaration of necessity.
17-2340 Housing authority by municipalities; creation; delegation of authority; powers.
17-2343 Removal of commissioners, when; hearing.
17-2344 Determinations by governing body.
17-2345 Powers of governing body.
17-2346 Operation of housing projects; nonprofit; fixing rentals; non-dwelling facilities, rental.
17-2347 Housing rentals and tenant admissions; non-dwelling facilities, tenants and rental.
17-2348 Cooperation between municipalities and housing authorities.
17-2349 Municipal housing; exemption from special assessments; payments in lieu of taxes.
17-2350 Planning, zoning and building laws.
17-2351 Issuance of revenue bonds; types; exempt from taxation.
17-2352 Bonds of municipality; resolution; terms and conditions.
17-2353 Same; bond provisions; trust indentures; mortgages.
17-2354 Remedies of an obligee.
17-2355 Same; additional remedies conferrable by municipality.
17-2356 Exemption of property from execution sale, when.
17-2357 Aid from federal government.
17-2358 Transfer of possession or title to federal government; contracts.
17-2359 Validity of bonds; certificate of auditor of state.
17-2361 Acquisition of property; eminent domain.
17-2362 Aid and cooperation in planning, constructing or operating projects.