HOUSE BILL No. 2147
An Act relating to banks and banking; concerning unlawful
K.S.A. 2000 Supp. 9-1112 and repealing the existing
Be it enacted by the Legislature of the State of Kansas:
Section 1. K.S.A. 2000 Supp. 9-1112
is hereby amended to read as
follows: 9-1112. (a) No bank shall buy, sell or trade tangible
a business or invest in the stock of another bank or corporation,
as specifically authorized.
(b) No bank shall sell, give or purchase
any instrument, contract, se-
curity or other asset to or from any employee or to or from the
parent company or a subsidiary of the bank's parent company
prior approval of the commissioner. Approval of the commissioner
not be obtained for an assignment of third party loans and security
the payment thereof to or from a subsidiary of the bank's parent
(c) No bank shall acquire or make a loan
on its own shares of stock,
or the stock of the bank's parent company or a subsidiary of the
parent company except as provided in subsection (d) or except as
in subsection (26) of K.S.A. 9-1101, and amendments thereto.
(d) A bank may hold or sell any property
coming into its ownership
in the collection of debts. All such property except legal
be sold within
six months one year of
acquisition, provided a commercially
reasonable sale can occur.
(e) If a commercially reasonable sale
cannot occur within
one year, the bank shall not carry such property as a book
that the commissioner may authorize a bank to carry such property
book asset for a longer period.
Sec. 2. K.S.A. 2000 Supp. 9-1112 is hereby
Sec. 3. This act shall take effect and be in force
from and after its
publication in the statute book.
Approved March 27, 2001.