9-1107. Temporary borrowing by bank; limitation; exceptions.
9-1107
9-1107. Temporary borrowing by bank; limitation; exceptions.
Any bank may borrow an amount not to exceed 100%
of its capital stock and surplus for temporary purposes. This limitation
shall not apply to any borrowing secured by legal investment securities,
for borrowing authorized under the provisions of K.S.A. 1980 Supp. 12-5201
through 12-5218, inclusive, and any amendments thereto or for borrowing
authorized under the provisions of public law 94-499[*], the mortgage subsidy
bond tax act of 1980.
The state bank commissioner may authorize borrowing in excess of such
limitation. Any bank may borrow upon legal investment securities and
rediscount and endorse in good faith any of its negotiable notes,
without limitation.
History: L. 1947, ch. 102, § 36; L. 1975, ch. 44, § 15; L. 1981,
ch. 51, § 1; April 25.