9-1127c.   Same; investments in corporationsperforming certain servicesunder 9-1127b; approval required.(a) No state bank shall invest in the capital stock of abank service corporation that performs any service under the authority ofsubsections (c), (d) or (e) of K.S.A. 9-1127b, and amendments thereto,without the prior approval of the state bank commissioner.

      (b)   No state bank shall invest in the capital stock of a bank servicecorporation that performs any service under authority of subsection (f)of K.S.A. 9-1127b, and amendments thereto, and no bank servicecorporation shall perform any activity under subsection (f) and K.S.A.9-1127b, and amendments thereto, without the prior approval of the statebank commissioner.

      (c)   In determining whether to approve or deny any application for priorapproval under this section, the state bank commissioner is authorized toconsider the financial andmanagerial resources and future prospects of the bank or banks and bank servicecorporation involved, including the financial capability of the bank to make aproposed investment under this act, and possible adverse affects such as undueconcentration of resources, unfair or decreased competition, conflicts ofinterest or unsafe or unsound banking practices.

      (d)   In the event the state bank commissioner fails to act on anyapplication under this section within 90days of the submission of a complete application to them, the application shallbe deemed approved.

      History:   L. 1984, ch. 48, § 8;L. 2001, ch. 87, § 10; July 1.