9-1127h. Savings and loan service corporations; definitions. As used in K.S.A. 2021 Supp. 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, ยง 5; 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.