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Can you summarize Agency 121 KSAR?
Kansas Administrative Regulations > State Department of Credit Unions
Short Summary
The provided legal document content covers various aspects of credit union operations and regulations in the state of Kansas. It includes the definition of ‘branch’ as it relates to a specific statute and its amendments, the process for merging credit unions, annual audit requirements for credit unions, regulations for foreign credit unions operating in Kansas, guidelines for unsafe or unsound practices by credit unions, incidental powers of credit unions, reporting requirements for credit unions, regulations for credit unions in deteriorating condition, fiduciary powers of corporate credit unions, regulations for Credit Union Services Organizations (CUSOs), contingency and business recovery plans for credit unions, and acceptance and management of non-member shares by low-income credit unions. These documents apply to various entities and individuals, including credit unions, supervisory committees, foreign credit unions, credit union board members, employees, and committee members. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Entities or individuals subject to K.S.A. 17-2221a (c) (2) and its amendments, credit unions formed under the laws of Kansas or any other state or of the United States of America, supervisory committees of credit unions, foreign credit unions operating in Kansas, credit union board members, employees, supervisory committee members, credit committee members, credit unions designated as low-income credit unions
What does it govern?
Definition of 'branch' as it relates to K.S.A. 17-2221a (c) (2) and its amendments, merger of credit unions, annual audit requirements for credit unions, regulation of foreign credit unions operating in Kansas, unsafe or unsound practices by credit unions, incidental powers of credit unions, reporting requirements for credit unions, deteriorating condition of credit unions, fiduciary powers of corporate credit unions, Credit Union Services Organizations (CUSOs) in Kansas, contingency and business recovery plans for credit unions, acceptance and management of non-member shares by low-income credit unions
What are exemptions?
No specific exemptions or exceptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Kansas