9-2323. No maximum interest rate or charge. Notwithstanding the provisions of chapter 16 of the Kansas Statutes Annotated, and amendments thereto, to the contrary, or any other statute, there is no maximum interest rate or charge or usury rate restriction between or among a fiduciary financial institution and a fidfin trust if the interest rate or charge is established by written agreement. A "written agreement" means a document in writing, whether in physical or electronic form, in which the parties have demonstrated their agreement to the terms and conditions of an extension of credit, including the rate of interest.
History: L. 2021, ch. 80, ยง 23; July 1.
Structure Kansas Statutes
Chapter 9 - Banks And Banking; Trust Companies
Article 23 - Technology-enabled Fiduciary Financial Institutions
9-2301 Citation of act; definitions.
9-2303 Fees and assessments; examination expenses; remittance of moneys.
9-2304 Provisions of state banking code applicable; exceptions; conflict of law.
9-2305 Capitalization requirements.
9-2306 Board of directors; membership; annual meeting; oath; notification of commissioner.
9-2307 Report to commissioner; safety and soundness.
9-2308 Name of institution; advertising; restrictions.
9-2309 Maintaining suitable office space; requirements; staffing; maintenance of records.
9-2311 Financing; required distribution amount; schedules; remittance of moneys.
9-2313 Custodial services; requirements.
9-2314 Trust advisor; rights, powers, immunities and liabilities.
9-2316 Trust advisor; presumed fiduciary; jurisdiction; appointment.
9-2317 Entity as trust advisor; requirements.
9-2318 Indemnification of trust advisor; exceptions.
9-2320 Privacy; protection in court proceedings; exception.
9-2321 Forms; definition; request for review; review not approval or endorsement.
9-2322 Adoption of rules and regulations by the commissioner; contracts for technical assistance.
9-2323 No maximum interest rate or charge.
9-2326 Trust interest not void or invalid by any common law rule.
9-2327 Tax classification as determined under the federal internal revenue code.