Part 1 SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS
Article 1.--GENERAL PROVISIONS AND DEFINITIONS
16a-1-108.(UCCC) Effect of act on powers of
organization.
(1) K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto,
prescribes maximum charges for all creditors, except lessors and those
excluded (K.S.A. 16a-1-202, and amendments
thereto),
extending consumer credit including
consumer credit sales (subsection (14) of K.S.A.
16a-1-301, and amendments thereto) and consumer
loans (subsection (17) of K.S.A. 16a-1-301,
and
amendments thereto), and displaces existing
limitations on the powers of those creditors based on maximum charges.
(2) With respect to sellers of goods or services, small loan
companies, licensed lenders, consumer and sales finance companies,
industrial banks and loan companies, and commercial banks and trust
companies, this act displaces existing limitations on their powers based
solely on amount or duration of credit.
(3) Except as provided in subsection (1) and in the article on
effective date and repealer (article 9), K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto, does not displace limitations
on powers of credit unions, savings banks, savings and loan
associations, or other thrift institutions whether organized for the
profit of shareholders or as mutual organizations.
(4) Except as provided in subsections (1) and (2) and in the article
on effective date and repealer (article 9), K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto,
does not displace:
(a) Limitations on powers of supervised financial organizations
(subsection (44) of K.S.A. 16a-1-301, and
amendments thereto) with respect to the amount
of a loan to a single borrower, the ratio of a loan to the value of
collateral, the duration of a loan secured by an interest in land, or
other similar restrictions designed to protect deposits, or
(b) limitations on powers an organization is authorized to exercise
under the laws of this state or the United States.
History: L. 1973, ch. 85, § 7; L. 1981, ch. 93, § 3;
L. 1993, ch. 200, § 2;
L. 1999, ch. 107, § 6; July 1.
Part 1 SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS
Article 1.--GENERAL PROVISIONS AND DEFINITIONS
16a-1-108.(UCCC) Effect of act on powers of
organization.
(1) K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto,
prescribes maximum charges for all creditors, except lessors and those
excluded (K.S.A. 16a-1-202, and amendments
thereto),
extending consumer credit including
consumer credit sales (subsection (14) of K.S.A.
16a-1-301, and amendments thereto) and consumer
loans (subsection (17) of K.S.A. 16a-1-301,
and
amendments thereto), and displaces existing
limitations on the powers of those creditors based on maximum charges.
(2) With respect to sellers of goods or services, small loan
companies, licensed lenders, consumer and sales finance companies,
industrial banks and loan companies, and commercial banks and trust
companies, this act displaces existing limitations on their powers based
solely on amount or duration of credit.
(3) Except as provided in subsection (1) and in the article on
effective date and repealer (article 9), K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto, does not displace limitations
on powers of credit unions, savings banks, savings and loan
associations, or other thrift institutions whether organized for the
profit of shareholders or as mutual organizations.
(4) Except as provided in subsections (1) and (2) and in the article
on effective date and repealer (article 9), K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto,
does not displace:
(a) Limitations on powers of supervised financial organizations
(subsection (44) of K.S.A. 16a-1-301, and
amendments thereto) with respect to the amount
of a loan to a single borrower, the ratio of a loan to the value of
collateral, the duration of a loan secured by an interest in land, or
other similar restrictions designed to protect deposits, or
(b) limitations on powers an organization is authorized to exercise
under the laws of this state or the United States.
History: L. 1973, ch. 85, § 7; L. 1981, ch. 93, § 3;
L. 1993, ch. 200, § 2;
L. 1999, ch. 107, § 6; July 1.
Part 1 SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS
Article 1.--GENERAL PROVISIONS AND DEFINITIONS
16a-1-108.(UCCC) Effect of act on powers of
organization.
(1) K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto,
prescribes maximum charges for all creditors, except lessors and those
excluded (K.S.A. 16a-1-202, and amendments
thereto),
extending consumer credit including
consumer credit sales (subsection (14) of K.S.A.
16a-1-301, and amendments thereto) and consumer
loans (subsection (17) of K.S.A. 16a-1-301,
and
amendments thereto), and displaces existing
limitations on the powers of those creditors based on maximum charges.
(2) With respect to sellers of goods or services, small loan
companies, licensed lenders, consumer and sales finance companies,
industrial banks and loan companies, and commercial banks and trust
companies, this act displaces existing limitations on their powers based
solely on amount or duration of credit.
(3) Except as provided in subsection (1) and in the article on
effective date and repealer (article 9), K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto, does not displace limitations
on powers of credit unions, savings banks, savings and loan
associations, or other thrift institutions whether organized for the
profit of shareholders or as mutual organizations.
(4) Except as provided in subsections (1) and (2) and in the article
on effective date and repealer (article 9), K.S.A. 16a-1-101 through 16a-9-102,
and amendments thereto,
does not displace:
(a) Limitations on powers of supervised financial organizations
(subsection (44) of K.S.A. 16a-1-301, and
amendments thereto) with respect to the amount
of a loan to a single borrower, the ratio of a loan to the value of
collateral, the duration of a loan secured by an interest in land, or
other similar restrictions designed to protect deposits, or
(b) limitations on powers an organization is authorized to exercise
under the laws of this state or the United States.
History: L. 1973, ch. 85, § 7; L. 1981, ch. 93, § 3;
L. 1993, ch. 200, § 2;
L. 1999, ch. 107, § 6; July 1.
