9-901a.   Amount of capital.(a) For purposes of this section, the capital of a bank or trust company shall be thetotal of the aggregate par value of its outstanding shares of capitalstock, its surplus and its undivided profits.

      (b)   The minimum capital of a bank or trust company in existence onJuly 1, 1975, shall be $250,000 or such lesser amount as such bank or trustcompany had on July 1, 1975. With respect to a bank or trust company inexistence on July 1, 1975, which thereafter transfers its place of business from onecity to another, the minimum capital shall be the amount required bysubsection (c).

      (c)   The minimum capital of a bank or trust company organized as a corporation afterJuly 1, 1975, or which thereafter transfers its place of business from onecity to another, shall be as follows:

      (1)   For a bank at least $250,000 or at least an amount equal to 8% ofits estimated deposits five years after its organization or transfer ofplace of business, whichever is greater, of which 60% shall be theaggregate par value of its outstanding shares of capital stock, 30% itssurplus and 10% its undivided profits;

      (2)   for a trust company at least $250,000 of which 60% shall be theaggregate par value of its outstanding shares of capital stock, 30% itssurplus and 10% its undivided profits.

      The state banking board may require that the bank or trust company havecapital in excess of the amounts specified inthis subsection if the board determines that the amount and character ofthe anticipated business of the bank or trust company and the safety of thecustomers so require.

      (d)   The minimum capital of a bank or trust company organized pursuant tosubsection (b) of K.S.A. 9-1801, and amendments thereto, shall bedetermined by the commissioner, provided that the successor bank hasobtained deposit insurance from the federal deposit insurance corporationor its successor.

      (e)   Except as may be provided elsewhere in this act, no bank or trustcompany shall reduce voluntarily its capital stock or surplus below theamounts required by this section.

      History:   L. 1975, ch. 44, § 7; L. 1976, ch. 55, § 1; L. 1986,ch. 55, § 2; L. 1987, ch. 54, § 2; L. 1989, ch. 48, § 15; July 1.