12-1675a.   Definitions.As used in K.S.A. 12-1675, 12-1676, 12-1677,12-1677a and 12-1677b, and amendments thereto:

      (a)   "Bank" means any bank incorporated under the laws of thisstate or any other state, ororganized under the laws of the United States which hasamain or branch office in this state;

      (b)   "savings and loan association" means any savings and loanassociationincorporated under the laws of this state or any other state, ororganizedunder the laws of the United States and which has a main or branchoffice in this state;

      (c)   "savings bank" means any savings bank organized under thelaws of theUnited Statesand which has a main or branch officeinthisstate;

      (d)   "municipality" includes eachinvesting governmental unit under K.S.A. 12-1675, and amendments thereto;

      (e)   "main office" means the place of business specified in the articles ofassociation, certificate of authority or similar document, where the businessof the institution is carried on and which is not a branch;

      (f)   "branch" means any officewithin thisstate, other than the main office, that is approved by a federal or statesupervisory agency at which deposits are received, checks paidor money lent.Branchdoes not include an automated teller machine, remote service unit or similardevice or a loan production office; and

      (g)   "investment rate" means a rate which is the equivalent yield for UnitedStates government securities having a maturity date as published in the WallStreet Journal, nearest the maturity date for equivalent maturities. The 0-90day rate shall be computed on the average effective federal funds rate aspublished by the federal reserve system for the previous week.

      History:   L. 1997, ch. 180, § 13;L. 2006, ch. 57, § 4; July 1.