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Can you summarize KSST Chapter 9, Article 5?
BANKS AND BANKING; TRUST COMPANIES > MISCELLANEOUS PROVISIONS
Short Summary
The provided legal document content covers various aspects of banking and money transmission in Kansas. It includes provisions related to opening deposit accounts, loan accounts, or other banking relationships on behalf of entities with financial institutions, acquisition of Kansas banks by out-of-state bank holding companies and their subsidiaries, establishment and maintenance of branches by foreign banks, approval of applications for bank acquisitions, ownership limitations for bank holding companies, definitions related to bank holding companies and banking activities, reporting requirements for money transmitter licensees, permissible investments for money transmitters, issuance, revocation, and renewal of licenses for money transmission businesses, business of money transmission, and the Kansas money transmitter act. These documents apply to individuals or entities involved in banking and money transmission activities in Kansas. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Persons opening a deposit account, loan account, or other banking relationship on behalf of an entity with a financial institution in Kansas, out-of-state bank holding companies and their subsidiaries, foreign banks, applicants for bank acquisitions in Kansas, individuals or entities seeking approval for the acquisition of voting shares or assets of a Kansas state chartered bank or a bank holding company, bank holding companies and their subsidiaries, money transmitter licensees, money transmission businesses, and persons engaged in the sale or issuance of payment instruments or other instruments for the transmission or payment of money
What does it govern?
Persons opening a deposit account, loan account, or other banking relationship on behalf of an entity with a financial institution in Kansas, acquisition of Kansas banks by out-of-state bank holding companies and their subsidiaries, establishment and maintenance of branches, agencies, offices, or other places of business by foreign banks in Kansas, approval of applications for bank acquisitions in Kansas, approval process for applications to acquire a Kansas state chartered bank or bank holding company, ownership limitations for bank holding companies and their subsidiaries, definitions related to bank holding companies and banking activities in Kansas, reporting of changes in executive officers or directors by money transmitter licensees, permissible investments for money transmitters, issuance, revocation, and renewal of licenses for money transmission businesses in Kansas, business of money transmission in Kansas, business of selling, issuing, or delivering payment instruments or other instruments for the transmission or payment of money, and the Kansas money transmitter act
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
Specific penalties for non-compliance or violation of the provisions are not mentioned in these documents.
Jurisdiction
Kansas