9-1714.   Appointment of special deputy bank commissioner, when; appealto board; hearing, decision.Whenever the state bank commissioner shall determine that the businessof any bank or trust company is being conducted in an unlawful or unsoundmanner, such commissioner may appoint a special deputy bank commissionerwho shall immediately take charge of the operation of such bank or trustcompany for the purpose of correcting any unlawful or unsound condition oroperation. Such appointment shall be made in accordance with the provisionsof K.S.A. 77-536, and amendments thereto. After appointment, the specialdeputy bank commissioner shall continue to serve under the direction of thecommissioner for such period of time as may be deemed reasonable andnecessary by the commissioner and, during such period, such special deputy bankcommissioner'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 theright within 15 days from the date of the notice of such appointment to appealin writingto the state banking board, and upon such appeal, the state banking boardshall fix a date for a hearing, which hearing shall be within 30days from the date of such appeal and shall be conducted in accordance with theprovisions of the Kansas administrative procedure act. The board shallrender an order as to the correctness or incorrectness of thecommissioner's decision to take over the conduct of such bank or trustcompany, 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.