9-538. Same; filing of CRA performance evaluation.
9-538
9-538. Same; filing of CRA performance evaluation.
(a) Each bank holding company with a subsidiary bank in Kansas shall file with
the commissioner a copy of the public section of any CRA performance evaluation
of the Kansas bank, issued under the federal community reinvestment act of
1977, 12 U.S.C. 2901 et seq., which assigns the Kansas bank a CRA rating of
"needs to improve record of meeting community credit needs" or "substantial
noncompliance in meeting community credit needs" or which is requested by the
commissioner.
The copy shall be filed within 30 days of its receipt by the bank
from the bank's primary federal financial supervisory agency.
(b) Should any such evaluation assign the bank a rating of "substantial
noncompliance in meeting community credit needs," the state bank
commissioner shall give appropriate public notice of that fact. The
commissioner also shall
notify the pooled money investment board of the bank's rating of substantial
noncompliance and thereafter the bank shall not be designated as a depository
for any state moneys until such time as the commissioner notifies the board
that the bank is no longer assigned such rating.
History: L. 1991, ch. 45, § 10;
L. 1995, ch. 79, § 9; Sept. 29.