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Can you summarize 17 KSAR Article 12?
Office of the State Bank Commissioner > Transactions
Short Summary
The provided legal document content pertains to the preparation and maintenance of transaction summaries for banks or trust companies. It requires that a daily summary of all transactions, including assets, liabilities, and net worth, be prepared and kept on file at the bank or trust company. Additionally, a monthly summary of transactions relating to fiduciary assets must be prepared and maintained. The document specifies that each transaction affecting the assets, liabilities, or fiduciary assets held by the bank or trust company should be shown in detail. The books and records must be designed in a way that allows the tracing of any transaction from its origin to the final entry. Daily posting of transactions is required, except for the final entries, which can be made at some other regular stated interval. The document references the relevant Kansas statutes and their amendments. It does not mention any exemptions or penalties for non-compliance or violation of its provisions.
Whom does it apply to?
The provisions outlined in the document apply to banks or trust companies that handle fiduciary assets.
What does it govern?
The provided legal document content governs the preparation and maintenance of transaction summaries for banks or trust companies, with a specific focus on fiduciary assets.
What are exemptions?
No exemptions are mentioned in the document.
What are the Penalties?
The document does not specify any penalties for non-compliance or violation of its provisions.
Jurisdiction
Kansas