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Can you summarize KSST 17-5001?
CERTAIN LOANS OR INVESTMENTS > Making, buying or selling certain guaranteed or insured loans; application of K.S.A. 17-5501.
Short Summary
This legal document authorizes savings and loan associations, building and loan associations, banks, trust companies, insurance companies, and other authorized organizations in Kansas to make, buy, and sell loans that are insured or guaranteed by the United States, the state of Kansas, or any instrumentality thereof. The loans can be secured or unsecured, and there are specific purposes for which unsecured loans can be made. However, any insured or guaranteed loans made by savings and loan associations, building and loan associations, or savings associations are subject to the limitations of loans to officers, directors, and employees as provided in subsection (j) of K.S.A. 17-5501.
Whom does it apply to?
Savings and loan associations, building and loan associations, banks, trust companies, insurance companies, and other organizations of this state authorized to make mortgage loans
What does it govern?
Making, buying, or selling certain guaranteed or insured loans
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Kansas