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Can you summarize 17 KSAR Article 16?
Office of the State Bank Commissioner > Charter Applications
Short Summary
The provided legal document outlines the requirements for an application for a certificate of authority for a proposed bank or trust company. The application must include the name and address of the proposed bank or trust company, as well as the names and addresses of the organizers, proposed officers, proposed directors, and shareholders. Detailed financial statements, certified by the owners, for the organizers, proposed officers, directors, and individual shareholders owning or controlling 10% or more of the stock must also be provided. The character, qualifications, and experience of the organizers, proposed officers, directors, and individual shareholders must be disclosed, including any criminal convictions. The applicant must provide a statement supporting the public need for the proposed bank or trust company in the community. Additionally, a list of other financial institutions within a certain radius of the proposed site must be provided. The applicant must also publish a notice of intent to file an application, meeting specific requirements. After considering the application, including any comment letters and the applicant’s response to comment letters, the board will determine whether to approve or deny the application. The state banking board must have at least 10 calendar days to consider any comment letters or the applicant’s response before making a determination. The applicant will be notified of the receipt of any comment letters and furnished a copy of those letters. The applicant may provide a written response to the board regarding any comment letters within 10 calendar days. The application for a certificate of authority and any supplemental information must be filed by submitting an original and nine copies to the office of the state bank commissioner at least 14 calendar days before the board’s regular meeting date. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Proposed bank or trust company, organizers, proposed officers, proposed directors, shareholders
What does it govern?
Application for a certificate of authority for a proposed bank or trust company
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Kansas