Banks are hereby authorized to give security for the safekeeping and prompt payment of funds deposited by any federally recognized Indian tribe. History: L. 2015, ch. 38, 13; July 1.

Any bank may receive deposits from minors or in the name of minors and pay the same upon the order of such minors whether or not such minors are emancipated. Payments so made shall discharge the bank from any further liability on the account. History: L. 1947, ch. 102, 53; L. 2015, ch. 38, 69; July 1.

An adverse claim to a bank deposit does not need to be paid out by the bank, unless and until either the: (a) Person making the claim supplies indemnity deemed adequate by the bank; or (b) bank is served with process or order issued by a court of competent jurisdiction in an action in which the adverse claimant and the person or persons nominally entitled to the deposit are parties. History: L.

When any drawee bank shall be presented with a draft drawn on the drawee bank in the usual course of business by a drawer bank that has failed or been closed by operation of law or legal action, the drawee bank shall accept and pay such draft regardless of having received notice, constructive or otherwise, of the failure or closing of the drawer bank if the: (a) Draft was issued prior to the failure or closing of the drawer bank; (b) drawee bank has, on deposit to the credit of the failed or closed drawer bank, sufficient funds to pay the draft; and (c) drawee bank has received proof that the draft represents payment of cash letters covering checks that had been charged to the individual accounts of the failed or closed drawer bank prior to the failure or closing of the drawer bank.

Any drawee bank paying a draft under the circumstances set out in K.S.A. 9-1213 , and amendments thereto, shall be released from any further liability thereon, and shall be fully protected and held harmless from any claim made by the receiver or other liquidating agent of the failed or closed drawer bank for sums representing payments made on the draft. History: L. 1955, ch. 66, 2; L. 2015, ch. 38, 73; July 1.

The federal deposit insurance corporation or any successor, hereby is authorized and empowered to be and act without bond as receiver of any bank, the deposits in which are to any extent insured by such corporation. If the federal deposit insurance corporation, or any successor, accepts the appointment, then the federal deposit insurance corporation, or any successor, shall succeed to all the rights, titles, powers and privileges of the bank and of any stockholder, member, account holder, depositor, officer or director of the bank with respect to the bank.

This section of the Kansas Statutes, under the BANKS AND BANKING; TRUST COMPANIES » BANKING CODE; DISSOLUTION; INSOLVENCY, prohibits the president, director, managing officer, cashier, or any other officer of a bank from accepting deposits that would create an excess above the federal deposit insurance corporation insured deposit amount, after having knowledge of the bank’s insolvency or failing circumstances. It is the duty of every such officer or managing officer to examine the bank’s affairs and know its condition.

In all actions brought for the recovery of any deposits received, in an amount that would create an excess above the federal deposit insurance corporation insured deposit amount, while any bank was insolvent or in failing circumstances, all officers, agents, and directors of such bank may be joined as defendants or proceeded against severally. The fact that any bank was insolvent or in failing circumstances at the time of the reception of the deposit shall be prima facie evidence of such knowledge in accepting the deposit on the part of such officer, agent or director so charged therewith.

This legal document pertains to the undelivered funds due to creditors, depositors, and shareholders on the liquidation of institutions under the jurisdiction of the state bank commissioner. It states that such undelivered funds, along with accrued interest, shall be paid to the state bank commissioner, who will remit the payments to the state treasurer. The state treasurer will then deposit the funds into the undistributed assets of defunct institutions fund, which is created by this document.

Every officer, director, agent or employee of any bank or trust company doing business in the state of Kansas who willfully and knowingly subscribes to or makes any false report or any false statement or entry in the books of such bank or trust company, or knowingly subscribes or exhibits any false writing, paper or electronic equivalent, with the intent to deceive any person as to the condition of such bank or trust company, upon conviction shall be guilty of a severity level 8, nonperson felony.