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Statutes > Kansas > Chapter17 > Article23 > Statutes_7704

17-2334

Chapter 17.--CORPORATIONS Article 23.--DEVELOPMENT CREDIT CORPORATIONS; HOUSING LAWS

17-2334. Same; restrictions on deposits. Such corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors, exclusive of the vote of any director who is an officer or director of the depository so designated. Such corporation shall not receive money on deposit.

History: L. 1955, ch. 144, § 7; June 30.

State Codes and Statutes

Statutes > Kansas > Chapter17 > Article23 > Statutes_7704

17-2334

Chapter 17.--CORPORATIONS Article 23.--DEVELOPMENT CREDIT CORPORATIONS; HOUSING LAWS

17-2334. Same; restrictions on deposits. Such corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors, exclusive of the vote of any director who is an officer or director of the depository so designated. Such corporation shall not receive money on deposit.

History: L. 1955, ch. 144, § 7; June 30.

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State Codes and Statutes

Statutes > Kansas > Chapter17 > Article23 > Statutes_7704

17-2334

Chapter 17.--CORPORATIONS Article 23.--DEVELOPMENT CREDIT CORPORATIONS; HOUSING LAWS

17-2334. Same; restrictions on deposits. Such corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors, exclusive of the vote of any director who is an officer or director of the depository so designated. Such corporation shall not receive money on deposit.

History: L. 1955, ch. 144, § 7; June 30.