17-10a03. Laws applicable upon ceasing to be a member.
17-10a03
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 has
become a member of a federal home loan bank, for any reason ceases to be a
member thereof, it shall at once become subject to all the provisions and
limitations contained in the laws of the state of Kansas relative to
building and loan associations and life insurance companies, except that it
may perform such acts as may be necessary to discharge obligations assumed
by it while a member of said bank: Provided, however, That such an
association may exercise all the powers conferred by this act in relation
to the borrowing of money from other corporations or agencies established
under the authority of the United States government.
History: L. 1933, ch. 143, § 3; Jan. 26.