17-5814. Deposit associations and savings deposits; definitions.
17-5814
17-5814. Deposit associations and savings deposits; definitions.
The following words used in articles 51 to 58, inclusive, of chapter 17
of the Kansas Statutes Annotated and acts amendatory thereof, are defined
as follows: (a) "Deposit association" shall mean a savings and loan
association that has adopted bylaws approved by the commissioner,
authorizing issuance of savings deposits and the operation of the
association as a deposit association.
(b) "Savings deposit" shall mean the form of withdrawable account issued
by a deposit association for a fixed, minimum or indefinite period of time
as authorized by its bylaws or by regulations of the commissioner.
(c) "Shares" when used in articles 51 to 58, inclusive, of chapter 17 of
the Kansas Statutes Annotated and acts amendatory thereof, to define a
withdrawable savings account shall have the same meaning as a savings
deposit if the association is a deposit association.
History: L. 1970, ch. 97, § 1; July 1.