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Can you summarize KSST 9-532?
MISCELLANEOUS PROVISIONS > Same; authority; fee.
Short Summary
This provision, found in the Kansas Statutes under the section on Banks and Banking; Trust Companies; Miscellaneous Provisions, allows companies to become bank holding companies or acquire ownership or control of a Kansas state chartered bank or a bank holding company with ownership interest in a Kansas state chartered bank, subject to prior approval from the commissioner. Companies must file an application containing the required information and pay a fee to cover the commissioner’s examination and investigation expenses. The fees collected are deposited into the bank investigation fund and used to pay for the examination and investigation of such applications. The provision does not specify any penalties for non-compliance. The history of this provision includes several amendments over the years.
Whom does it apply to?
Companies seeking to become bank holding companies or acquire ownership or control of a Kansas state chartered bank or a bank holding company
What does it govern?
Acquisition of ownership or control of a bank or another company, becoming a bank holding company, acquisition of voting shares or assets of a Kansas state chartered bank or a bank holding company with ownership interest in a Kansas state chartered bank
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
N/A
Jurisdiction
Kansas