17-2236.   Bonds of administrator, examinersand employees; dispositionof moneys; credit union fee fund.Before entering their respective duties, the administrator, each creditunion examiner, and any other employee within the credit uniondepartment as determined in accordance withthe provisions of K.S.A. 75-4104, and amendments thereto, shall give a bondset at a minimum of$25,000 perindividual conditioned upon the faithful and impartial discharge oftheir respective duties and the proper accounting for all funds whichmay come into their hands. Such bonds shall be executed by a suretycompany authorized to do business in this state. Such bonds shallbeapproved by the committee on surety bonds and insurance and filed, withthe approval of such committee endorsed thereon together with the oathsof office of such officers and employees, with the secretary of state.Premium on such bonds shall be paid from the credit union feefund.Suits may be maintained on such bonds in the name of the state for theuse of the party or parties injured by a breach thereof.

      The administrator shall remit all moneys received by or for the administratorfromfees, charges or penalties to the state treasurer inaccordance with the provisions of K.S.A. 75-4215, and amendments thereto.Uponreceipt of each such remittance, the state treasurershalldeposit theentire amount in the state treasury. Twenty percent ofeach such deposit shall be credited to the state general fund and thebalance shall be credited to the credit union fee fund. All expendituresfrom such fund shall be made in accordance with appropriation acts uponwarrants of the director of accounts and reports issued pursuant tovouchers approved by the administrator or by a person orpersons designated by the administrator. The compensation of members andemployees,office costs and other actual and necessary expenses of thedepartmentand expenses incurred in the administration and enforcement of this actshall be paid from the credit union fee fund.

      History:   L. 1968, ch. 160, § 22;L. 1970, ch. 89, § 1;L. 1973, ch. 309, § 7;L. 1980, ch. 270, § 4;L. 1992, ch. 225, § 18;L. 2001, ch. 5, § 60; July 1.