17-5571

Chapter 17.--CORPORATIONS
Article 55.--SAVINGS AND LOAN CODE; POWERS

      17-5571.   Prohibitions; injunctive relief; damages; definitions.(a) An association shall not in any manner extend credit,lease or sell property of any kind, or furnish any service, or fix or varythe consideration for any of the foregoing, on the condition or requirementthat the customer: (1) Shall obtain additional credit, property or servicefrom such association, or from any service corporation or affiliate of suchassociation, other than a loan, discount, deposit or trust service; (2)provide additional credit, property or service to such associations or toany service corporation or affiliate of such association, other than thoserelated to and usually provided in connection with a similar loan, discount,deposit or trust service; or (3) shall not obtain some other credit, propertyor services from a competitor of such association, or from a competitorof any service corporation or affiliate of such association, other thana condition or requirement that such association shall reasonably imposein connection with credit transactions to assure the soundness of credit.

      (b)   Any person may sue for and have injunctive relief in the courts ofthis state having jurisdiction over the parties against threatened lossor damage by reason of a violation of this section under the same conditionsand principles as injunctive relief against threatened conduct that willcause loss or damage is granted by courts of this state under the rulesgoverning such proceedings. Upon the execution of proper bond as providedin K.S.A. 60-905, and amendments thereto, and after a showing the dangerof irreparable loss or damage is immediate, a temporary injunction may be issued.

      (c)   Any person who is injured in such person's business or property byreason of anything forbidden in this section, may sue in any district courtof this state where the defendant resides or is found or has an agent andshall be entitled to recover three times the amount of the damages sustainedby such person and the cost of the suit, including reasonable attorney fees.

      (d)   Nothing contained in this section shall be construed as affectingin any manner the right of this state or any other party to bring an actionunder any other law of the United States or of any state, including anyright which may exist in addition to specific statutory authority challengingthe legality of any act or practice which may be proscribed by this section. No regulation or order issued by the state savings and loan board shallin any manner constitute a defense to such action.

      (e)   For the purposes of this section: (1) "Affiliate of an association"means any individual or company, including any corporation, partnership,trust, joint-stock company or similar organization which controls, is controlledby or is under common control with such association; and (2) "loan" includesobligations and extensions or advances of credit.

      History:   L. 1983, ch. 86, § 4; April 21.