17-5607


Chapter 17.--CORPORATIONS


Article 56.--SAVINGS AND LOAN CODE; SUPERVISION

     
17-5607.   Approval of petition for certificate of incorporation; hearing.
Upon the receipt by the commissioner of a petition for a certificate of
incorporation signed and acknowledged as provided in this act accompanied
by the incorporation fee, the commissioner shall immediately inquire into
the advisability of issuing a certificate of approval of the incorporation
of such association and shall thereupon recommend to the board the approval
or disapproval of the incorporation. The commissioner shall immediately
forward such commissioner's recommendations regarding the incorporation,
with the reasons therefor, to the board and such commissioner's records
shall be available to the board at all times. The board shall conduct a
hearing on the petition in accordance with the provisions of the Kansas
administrative procedure act and shall approve or disapprove the
incorporation. If the board approves the incorporation the commissioner
shall issue a certificate of approval substantially in the form provided in this act.

     
History:   L. 1943, ch. 133, § 160; L. 1988, ch. 356, § 60; July 1, 1989.