9-1602.   Granting of application; revoking trust authority; hearing.(a) The commissioner has the discretion to grant or reject theapplication of any bank to acquire trust authority. Thecommissioner shall take into consideration the amount of capital andsurplus of such bank, the needs of the community to be served and anyother facts and circumstances that the commissioner shall deem proper.

      (b)   The commissioner may revoke trust authority for any bank or trustcompany uponfinding a failure to adhere to sound fiduciary practices.

      (c)   A bank or trust company subject to revocation of trust authorityshall be affordedthe right to a hearing in accordance with the provisions of the Kansasadministrative procedure act.

      History:   L. 1947, ch. 102, § 78;L. 1990, ch. 61, § 1; July 1.