17-10a03.   Laws applicable upon ceasing to be a member.When a building and loan association or life insurance company,organized and existing under the laws of the state of Kansas, and which hasbecome a member of a federal home loan bank, for any reason ceases to be amember thereof, it shall at once become subject to all the provisions andlimitations contained in the laws of the state of Kansas relative tobuilding and loan associations and life insurance companies, except that itmay perform such acts as may be necessary to discharge obligations assumedby it while a member of said bank: Provided, however, That such anassociation may exercise all the powers conferred by this act in relationto the borrowing of money from other corporations or agencies establishedunder the authority of the United States government.

      History:   L. 1933, ch. 143, § 3; Jan. 26.