9-1127c. Same; investments in corporations performing certain services under 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 [effects] 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.
Structure Kansas Statutes
Chapter 9 - Banks And Banking; Trust Companies
Article 11 - Banking Code; Powers
9-1101a Issuance of capital notes or debentures, when; limitations.
9-1102 Holding of real estate; limitations.
9-1107 Temporary borrowing by bank; limitation; exceptions.
9-1111 Branch banking; remote service units.
9-1114 Board of directors of bank or trust company; rules and requirements.
9-1115 Officers of bank or trust company; election; term; bond; forfeiture of office.
9-1116 Meetings of board; examination of records, funds and securities; minutes.
9-1119 Certified checks, drafts or orders.
9-1121 Reproduction of records and papers; evidence.
9-1122 Closing of banks; business hours; emergencies.
9-1123 Bank service corporations; definitions.
9-1124 Same; investment by banks; limitations.
9-1125 Same; unreasonable discrimination in providing services prohibited; exceptions.
9-1127a Same; services which may be performed for depository institutions.
9-1127b Same; services which may be provided by corporations; restrictions.
9-1127e Same; investments by savings and loan associations and savings banks.
9-1127f Same; new activities with savings and loan associations; prior approval required.
9-1127g Same; permitted activities.
9-1127h Savings and loan service corporations; definitions.
9-1129 Same; application of act.
9-1131 Repurchase agreements with pooled money investment board.
9-1132 Personal liability of officers and directors, exceptions.
9-1133 Liability of officers and directors; actions; certain provisions applicable.
9-1134 Liability of officers and directors; severability.
9-1136 Powers; authority to lease certain personal property; definitions.
9-1138 School savings deposit program; requirements; definitions.
9-1140 Prohibiting branch banks in certain locations.
9-1141 Securing deposits for federally recognized Indian tribe.
9-1142 Savings promotion; requirements; rules and regulations.