9-802. Date of existence; transaction of business before authorization. (a) The existence of any bank or trust company as a corporation shall date from the filing of the bank's or trust company's articles of incorporation with the Kansas secretary of state's office from which time such bank or trust company shall have and may exercise the incidental powers conferred by law upon corporations, except that no bank or trust company shall transact any business except the election of officers, the taking and approving of official bonds, the receipts of payment upon stock subscriptions and other business incidental to their organization, until such bank or trust company has secured the approval of the state banking board and the authorization of the commissioner to commence business.
(b) The full amount of the common stock including the surplus and undivided profits as required by the Kansas banking code shall be subscribed before the articles of incorporation are filed with the Kansas secretary of state's office.
History: L. 1947, ch. 102, § 5; L. 1989, ch. 48, § 13; L. 2015, ch. 38, § 24; L. 2016, ch. 54, § 5; July 1.
Structure Kansas Statutes
Chapter 9 - Banks And Banking; Trust Companies
Article 8 - Banking Code; Organization
9-801 Incorporation; application; criteria for approval of application.
9-802 Date of existence; transaction of business before authorization.
9-803 Renewal and extension of corporation; lapse in authority or existence.
9-804 Certificate of authority; examination; issuance.
9-806 Failure to engage in business; reapplication required.
9-809 Stockholder vote for conversion to national bank; copy of application to commissioner.
9-811 Prohibition against nonbank banks; exceptions.
9-812 Bank change of name; approval required.
9-814 Change of place of business; application and approval process.
9-815 Expenses of examination or investigation; payment; disposition of moneys received.