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Can you summarize 17 KSAR Article 21?
Office of the State Bank Commissioner > Bank Holding Companies; Application for the Acquisition of a Kansas Bank or Bank Holding Company
Short Summary
This document governs the acquisition of control of Kansas banks or Kansas bank holding companies by bank holding companies. It outlines the requirements and procedures for bank holding companies to acquire one or more Kansas banks or Kansas bank holding companies. The document defines ‘acquisition of control’ as owning, controlling, or having the power to vote 25 percent or more of any class of voting securities, controlling the election of a majority of directors or trustees, or exercising a controlling influence over management or policies. To acquire control, a bank holding company must file an application with the commissioner, along with a separate application and fee for each bank or bank holding company to be acquired. The applicant holding company is responsible for any additional costs. The document references relevant statutes and provides effective dates for amendments. There are no specific exemptions or penalties mentioned in these documents.
Whom does it apply to?
Bank holding companies seeking to acquire Kansas banks or Kansas bank holding companies
What does it govern?
The acquisition of control of Kansas banks or Kansas bank holding companies by bank holding companies
What are exemptions?
No exemptions are mentioned
What are the Penalties?
No penalties are mentioned
Jurisdiction
Kansas