17-2223a.   Administrator's approval required beforeforeign credit uniondoes business in state; examination; hearing.(a) Subject to the rules and regulations of the administrator, no creditunion, except credit unions organized under the laws of thestateof Kansas or the "federal credit union act," 12 U.S.C. 1751 et seq.,and amendments thereto, shall do business in this state until it has receivedthe approval of the credit union administrator.

      (b)   The administrator shall require any such credit unionto comply with the provisions of subsection(b) of K.S.A. 17-2206, and amendments thereto.

      (c)   If after a hearing or an opportunity for a hearing has been given suchcredit union in accordance with the provisions of the Kansas administrativeprocedure act, the administrator determines that such credit union has violatedany provision of this act, the administrator may revoke such credit union'sauthority to do business in this state.

      History:   L. 1977, ch. 72, § 1;L. 1997, ch. 6, § 1;L. 2001, ch. 84, § 2;L. 2005, ch. 36, § 2; July 1.