9-1715.   Authority to engage in activities authorizedfor national banks;powers of bank commissioner, limitations; special order, publication; report tolegislature.(a) The commissioner shall have the power to authorize any or all state banksto engage in any activity in which such bankscould engage were they operating as any insureddepository institution at the time suchauthority is granted, including but without limitation because of enumerationthe power to do any act, and own, possess and carry as assets, property of suchcharacter including stocks, bonds or other debentures which, at the timeauthority is granted, is authorized under applicable lawsand regulations to bedone by any insured depository institutionnotwithstanding any restriction elsewhere contained inthe statutes of the state of Kansas.This power shall include the power to authorize any or all Kansas trustcompanies to engage in any trust related activity in which the trust departmentof any insured depository institution with trustpowers could engage at the time authority isgranted.This power shall be in addition to anyand all other powers granted to the commissioner.

      (b)   The commissioner shall exercise the power granted in subsection (a) bythe issuance of a special order if the commissioner deems it reasonablyrequired to preserve and protect the welfare of a particular institution, or ifthe commissioner deems it reasonably required to preserve the welfare of allstate banks or trust companies and to promote competitive equality of stateand other insured depository institutions. Suchspecialorder shall provide for the effective datethereof and upon and after such date shall be in full force and effect untilamended or revoked by the commissioner. Promptly following issuance, thecommissioner shall mail a copy of each special order to all statebanks and trust companies and shall be published in the Kansas register.

      (c)   The commissioner, at the time of issuing any specialorder pursuant to this section, shall prepare a written report, which shallinclude a description of the special order and a copy of the special order, andsubmit the written report to:

      (1)   The president and the minority leader of the senate;

      (2)   the chairperson and ranking minority member of the senate standingcommittee on financial institutions and insurance;

      (3)   the speaker and the minority leader of the house of representatives;

      (4)   the chairperson and ranking minority member of the house ofrepresentatives standing committee on financial institutions; and

      (5)   the governor.

      (d)   Within two weeks of the beginning of each legislative session, thecommissioner shall submit to the chair of the senate standing committee onfinancial institutions and insurance, and the chair of the house standingcommittee on financial institutions, a written summary of each special orderissued during the preceding year. Upon request of the chair of the senatestanding committee on financial institutions and insurance or the chair of thehouse standing committee on financial institutions, the commissioner, or thecommissioner's designee, shall appear before the committee to discussany special order issued during the preceding year. If the committee desiresinformation concerning the economic impact of any special order, the committeechair or ranking minority member may request assistance from the division ofbudget.

      (e)   The issuance of special orders under this section shallnot be subjectto the provisions of article 4 of chapter 77 of the Kansas StatutesAnnotated.

      (f)   As used in this statute, "insured depository institution" means abank, a savings and loan association or a savings bankorganized under the laws of the United States, this state, or any other state,whose deposits are insured by the United States government.

      History:   L. 1967, ch. 74, § 1;L. 1975, ch. 44, § 36;L. 1980, ch. 48, § 1;L. 1986, ch. 57, § 11;L. 1995, ch. 74, § 1;L. 1999, ch. 12, § 1;L. 2000, ch. 19, § 1;L. 2001, ch. 33, § 1; July 1.