9-1609.   Fiduciary may establish trust funds; rules and regulations.Any state or national bank or trust company qualified to act asfiduciary in this state may establish common trust funds for the purpose offurnishing investments to itself as fiduciary, or to itself and others, ascofiduciariesor to another state or national bank or trust company, as fiduciary,which is a subsidiary of the same bank holding company of which it is asubsidiary, as such terms are defined in K.S.A. 9-519, andamendments thereto; andany state or national bank or trust company qualified to act as fiduciaryin this statemay, as such fiduciary or cofiduciary, invest fundswhich it lawfully holds for investment in interests in such common trustfunds, if such investment is not prohibited by the instrument, judgment,decree or order creating such fiduciary relationship, and if, in the caseof cofiduciaries, the bank or trust company procures the consent of itscofiduciaries to such investment. The state banking board is herebyauthorized to adopt rules and regulations for a plan of operation for themanagement of funds for state banks and trust companies.

      History:   L. 1951, ch. 123, § 1;L. 1986, ch. 56, § 3; May 22.