9-1714. Appointment of special deputy bank commissioner, when; appeal to board; hearing, decision.
9-1714
9-1714. Appointment of special deputy bank commissioner, when; appeal
to board; hearing, decision.
Whenever the state bank commissioner shall determine that the business
of any bank or trust company is being conducted in an unlawful or unsound
manner, such commissioner may appoint a special deputy bank commissioner
who shall immediately take charge of the operation of such bank or trust
company for the purpose of correcting any unlawful or unsound condition or
operation. Such appointment shall be made in accordance with the provisions
of K.S.A. 77-536, and amendments thereto. After appointment, the special
deputy bank commissioner shall continue to serve under the direction of the
commissioner for such period of time as may be deemed reasonable and
necessary by the commissioner and, during such period, such special deputy bank
commissioner's salary, which shall be determined by the commissioner,
and expenses shall be borne by the bank or trust company under supervision.
After such appointment, any such bank or trust company shall have the
right within 15 days from the date of the notice of such appointment to appeal
in writing
to the state banking board, and upon such appeal, the state banking board
shall fix a date for a hearing, which hearing shall be within 30
days from the date of such appeal and shall be conducted in accordance with the
provisions of the Kansas administrative procedure act. The board shall
render an order as to the correctness or incorrectness of the
commissioner's decision to take over the conduct of such bank or trust
company, and the order of such board shall be final and conclusive.
History: L. 1965, ch. 82, § 1; L. 1975, ch. 44, § 35;
L. 1988, ch. 356, § 40;
L. 2001, ch. 87, § 12; July 1.