17-7305. Same; banking power denied; foreign corporations subject to laws governing domestic corporations.
17-7305
17-7305. Same; banking power denied; foreign corporations subject
to laws governing domestic corporations.
(a) Unless authority is expressly conferred by another law of this
state, no foreign corporation shall possess the power of issuing bills,
notes or other evidences of debt for circulation as money, or the power
of carrying on the business of receiving deposits of money.
(b) Foreign corporations authorized to do business in this state
which are organized to buy, sell and otherwise deal in notes, open
accounts and other similar evidences of debt, or to loan money and to
take notes, open accounts and other similar evidences of debt as
collateral security therefor, shall not be deemed to be engaging in the
business of banking.
(c) Any corporation organized under the laws of another state,
territory or foreign country, and authorized to do business in this
state, shall be subject to the same provisions, judicial control,
restrictions and penalties, except as otherwise provided in K.S.A. 17-7301
to 17-7308, inclusive, as corporations
organized under the laws of this state.
History: L. 1972, ch. 52, § 145; July 1.