17-2206a.   Undelivered funds due creditors,depositors andshareholders of defunct credit union; duties of administrator and statetreasurer; undistributed assets of defunct credit unions fund.On and after July 1, 1972, and in every case occurring heretofore andhereafter, in which funds due to creditors, depositors and shareholderson liquidation of institutions under the jurisdiction of the creditunion administrator under K.S.A. 17-2206 and 17-2230, and amendmentsthereto, areundelivered, they shall, together with accrued interest, if any, be paidto the credit union administrator, who shall remit suchpayments tothe state treasurer, in accordance with the provisions of K.S.A. 75-4215,andamendments thereto, and credit such individual creditors, depositors orshareholders account in the undistributed assets of defunct credit unionfund ledger. The state treasurer shalldeposit the entire amount in thestate treasuryto the credit of the undistributed assets of defunct credit unions fundwhich is herebycreated. Such fund shall be used only for refunds andpayments ofamounts due creditors, depositors and shareholders on claims filed withand approved by the credit union administrator. Any balance remaining inthe fund from any single defunct credit union fiveyears, duringwhich time no person entitled thereto shall have appeared to claim suchfunds, shall be transferred by the credit union administrator to thestate general fund and appropriate entries made in the individualcreditors, depositors or shareholders record, showing the date anddisposition of the funds and shall further recite that they weretransferred by reason of this statute of limitation.

      History:   L. 1972, ch. 62, § 1;L. 2001, ch. 5, § 59; July 1.