9-1725. Powers of the commissioner during existence of an emergency. (a) Whenever the commissioner is of the opinion that an emergency, as defined by K.S.A. 9-1122, and amendments thereto, exists or is impending in this state which affects, or may affect, a particular bank, trust company, multiple banks or multiple trust companies, the commissioner may, by proclamation, temporarily close the particular institutions located in the affected area. The banks or trust companies so closed shall remain closed until the commissioner proclaims that the emergency has ended.
(b) The commissioner may approve a request for an emergency temporary closing and subsequent reopening of a particular bank or trust company by the officers of such bank or trust company pursuant to K.S.A. 9-1122, and amendments thereto.
(c) Whenever the commissioner is of the opinion that an emergency, as defined by K.S.A. 9-1122, and amendments thereto, affects, or may affect, a particular bank, branch bank, trust company or trust service office, the commissioner may approve a temporary relocation of the bank, branch bank, trust company or trust service office. The temporary relocation shall be as close as the commissioner determines is safely possible to the bank, branch bank, trust company or trust service office's approved place of business.
(d) Every day that any bank, branch bank, trust company, or trust service office thereof, remains closed pursuant to this section shall be deemed a holiday for all of the purposes of chapter 84 of the Kansas Statutes Annotated, and amendments thereto, and with respect to any banking business of any character. No bank, branch bank, trust company or trust service office shall be required to permit access to such bank's, branch bank's or trust company's safe deposit vault or vaults on any such day. If the terms of a contract require the payment of money or the performance of a condition on any such day by, through, with or at any bank, branch bank, trust company or trust service office, then the payment may be made or condition performed on the next business day with the same force and effect as if made or performed in accordance with the terms of the contract. No liability or loss of rights of any kind shall result from the delay.
(e) Any bank, branch bank, trust company or trust service office temporarily closed or relocated pursuant to this section shall post notice of such closing in a conspicuous place at each closed location. Such notice shall serve as official notification to everyone of the temporary closing or relocation of the bank, branch bank, trust company or trust service office and thereafter no liability shall be incurred by the bank or trust company by reason of the temporary closing or relocation pursuant to this section.
History: L. 2015, ch. 38, ยง 2; July 1.
Structure Kansas Statutes
Chapter 9 - Banks And Banking; Trust Companies
Article 17 - Banking Code; Supervision; Commissioner
9-1701 Examination of banks and trust companies; other reports.
9-1702 Examination of fiduciaries and affiliated organizations and their officers and employees.
9-1704 Reports to commissioner; publication, when.
9-1708 Refusal to be examined; remedy.
9-1709 Failure to respond to a lawful request of the commissioner.
9-1712 Examination of records and investigative materials of commissioner, confidential; disclosure.
9-1713 Adoption of rules and regulations; approval of board.
9-1714 Appointment of special deputy bank commissioner.
9-1715 Special orders; procedures.
9-1716 Powers of commissioner; order restricting declaration and payment of dividends.
9-1717 Prohibition against felon from serving as director, officer or employee.
9-1719 Change of control; definitions.
9-1720 Change of control; approval.
9-1721 Application process; approval factors and criteria; time frame.
9-1722 Application requirements.
9-1724 Exception for mergers resulting in a national bank.
9-1725 Powers of the commissioner during existence of an emergency.