16a-1-108.   (UCCC) Effect of act on powers oforganization.(1) K.S.A. 16a-1-101 through 16a-9-102,and amendments thereto,prescribes maximum charges for all creditors, except lessors and thoseexcluded (K.S.A. 16a-1-202, and amendmentsthereto),extending consumer credit includingconsumer credit sales (subsection (14) of K.S.A.16a-1-301, and amendments thereto) and consumerloans (subsection (17) of K.S.A. 16a-1-301,andamendments thereto), and displaces existinglimitations on the powers of those creditors based on maximum charges.

      (2)   With respect to sellers of goods or services, small loancompanies, licensed lenders, consumer and sales finance companies,industrial banks and loan companies, and commercial banks and trustcompanies, this act displaces existing limitations on their powers basedsolely on amount or duration of credit.

      (3)   Except as provided in subsection (1) and in the article oneffective date and repealer (article 9), K.S.A. 16a-1-101 through 16a-9-102,and amendments thereto, does not displace limitationson powers of credit unions, savings banks, savings and loanassociations, or other thrift institutions whether organized for theprofit of shareholders or as mutual organizations.

      (4)   Except as provided in subsections (1) and (2) and in the articleon effective date and repealer (article 9), K.S.A. 16a-1-101 through 16a-9-102,and amendments thereto,does not displace:

      (a)   Limitations on powers of supervised financial organizations(subsection (44) of K.S.A. 16a-1-301, andamendments thereto) with respect to the amountof a loan to a single borrower, the ratio of a loan to the value ofcollateral, the duration of a loan secured by an interest in land, orother similar restrictions designed to protect deposits, or

      (b)   limitations on powers an organization is authorized to exerciseunder the laws of this state or the United States.

      History:   L. 1973, ch. 85, § 7; L. 1981, ch. 93, § 3;L. 1993, ch. 200, § 2;L. 1999, ch. 107, § 6; July 1.