9-1917.   Undelivered funds due creditors, depositors and shareholdersof defunct bank or trust company; duties of commissioner and statetreasurer; undistributed assets of defunct institutions fund.On and after July 1, 1972, and in every case occurring heretofore andhereafter, in which funds due to creditors, depositors and shareholders onliquidation of institutions under the jurisdiction of the state bankcommissioner under K.S.A. 9-1901 et seq., and amendmentsthereto, are undelivered, theyshall,together with accrued interest, if any, be paid to the state bankcommissioner, who shall remit all suchpayments to the state treasurer, in accordance with the provisions ofK.S.A. 75-4215, and amendments thereto, andcredit such individual creditors, depositors or shareholders account in theundistributed assets of defunct institution fund ledger. Upon receipt ofeach such remittance, the statetreasurer shalldeposit the entire amount in the state treasuryto thecredit of theundistributed assets ofdefunct institutions fund which is hereby created. Such fundshall be usedonly for refunds and payments of amounts due creditors, depositors andshareholders on claims filed with and approved by the state bankcommissioner. Any balance remaining in the fund from anysingle defunctinstitution five years, during which time no person entitled theretoshall have appeared to claim such funds, shall be transferred by the statebank commissioner to the state general fund and appropriate entries made inthe individual creditors, depositors or shareholders record, showing thedate and disposition of the funds and shall further recite that they weretransferred by reason of this statute of limitation.

      History:   L. 1972, ch. 36, § 1;L. 2001, ch. 5, § 46; July 1.