Ask Reggi Your Question Now
Can you summarize KSST Chapter 9, Article 20?
BANKS AND BANKING; TRUST COMPANIES > BANKING CODE; CRIMES AND PUNISHMENTS
Short Summary
This legal document governs various aspects of banking and trust companies in Kansas. It prohibits directors, officers, employees, and agents of banks and trust companies from altering, destroying, or falsifying records with intent to impede examinations, investigations, or proceedings by the commissioner. It also requires individuals and entities to obtain a certificate from the commissioner before transacting banking or trust business. The document declares that if any provision of the state banking code is held invalid, it will not affect other provisions that can still be given effect. The commissioner is obligated to inform the county or district attorney of any violations of the state banking code that constitute misdemeanors or felonies. The document also prohibits bribery and solicitation in connection with any business or transaction of a state bank or trust company. It makes it unlawful to advertise or promulgate engagement in banking or trust business without authority from the commissioner. The document prohibits banks from accepting deposits when insolvent and prohibits activities that intend to injure, defraud, or deceive a bank or trust company. It also imposes duties on bank commissioners and deputy bank commissioners and establishes penalties for various offenses, including false reports, perjury, and failure to perform duties.
Whom does it apply to?
This document applies to directors, officers, employees, and agents of banks and trust companies, as well as individuals, firms, and corporations engaged in banking or trust business, and bank commissioners or deputy bank commissioners.
What does it govern?
This legal document governs various aspects of banking and trust companies in Kansas, including the conduct of directors, officers, employees, and agents, the transacting of banking and trust business, the invalidity of provisions, the duty of the commissioner, bribery and solicitation, advertising and promulgation, acceptance of deposits, activities to injure, defraud, or deceive, neglect of duty, false reports and statements, perjury, and failure to perform duties.
What are exemptions?
No specific exemptions are mentioned in this document.
What are the Penalties?
The penalties for violating the provisions in this document vary depending on the offense. Violations related to altering, destroying, or falsifying records with intent to impede an examination, investigation, or proceeding by the commissioner are considered severity level 8, nonperson felonies. Violations related to transacting banking or trust business without a certificate from the commissioner are considered class B, nonperson misdemeanors. Violations related to bribery, solicitation, false reports, perjury, or failure to perform duties are considered class A, nonperson misdemeanors. Violations related to accepting deposits when insolvent, engaging in activities to injure, defraud, or deceive, or receiving deposits after authority revocation are considered severity level 8, nonperson felonies. Violations related to neglect of duty or failure to conform to lawful requirements made by the commissioner are considered class A, nonperson misdemeanors.
Jurisdiction
Kansas