9-1918.   Escheat and disposition of certain propertyin custody of commissioner;escheat.Whenever the state bank commissioner shall determine that property or assetsheld in the commissioner's custody and received as aresult of the liquidation ofany institution under the jurisdiction of the commissioner has remainedin the commissioner's custody for a period of morethan 10 years, and no claimhas been filed during such period by any creditor, depositor or shareholderof such institution, such property shall escheat to thestate. The commissionershall notify the director of purchases of the property or assets so heldand the director of purchases shall authorize and provide for the salesof such property or assets in the manner provided by law for the sale ofobsolete or unused property of the state. All proceeds from the sale ofany such property or assets shall be remitted to the statetreasurer in accordance with the provisions of K.S.A. 75-4215, and amendmentsthereto. Upon receipt of each such remittance, the state treasurer shalldeposit the entire amount in the state treasury tothe credit of the state general fund and appropriate entries made in therecords of the state bank commissioner showing the disposition of the propertyor assets, the amount received therefor and the disposition thereof.

      History:   L. 1976, ch. 361, § 1;L. 2001, ch. 5, § 47; July 1.