9-1102.Holding of real estate and personal
property; limitations.
(a) Any bank or trust company may own, purchase, lease, hold, encumber
or convey real property
and certain personal property subject to the following:
(1) Own suitable building, furniture and fixtures, stock in a single
trust company organized under the laws of the state of
Kansas, and stock in a safe deposit company organized under the laws of the
state of Kansas, and stock in a corporation organized under the laws of
this state owning real estate all or a part
of which is occupied or to be occupied by the bank or trust company;
(2) purchase, hold, encumber and convey real estate or lease, as lessor
or lessee, any building or buildings. Any real estate not necessary for the
bank's or trust company's accommodation in the transaction of its
business shall be disposed of or charged off its books by the bank or
trust company not later than
seven years after its intended use for banking purposes
ends, unless the state bank commissioner
authorizes the bank or trust company to retain such real estate on its
books for a period not to exceed an additional three years;
(3) a bank's or trust company's total investment or ownership at all
times in any one or more of the following shall not exceed 1/2 of its
unimpaired capital stock, surplus, undivided profits and capital notes and
debentures, and any such excess shall be removed from the bank's or trust
company's books unless approval is granted by the state bank commissioner:
(A) The book value of real estate plus all encumbrances thereon;
(B) the book value of furniture and fixtures;
(C) the book value of stock in a safe deposit company;
(D) the book value of stock in a trust company; or
(E) the book value of stock in a corporation organized under the laws
of this state owning real estate occupied by the bank or trust company
and advances to such corporation acquired or made after July 1, 1973.
Except that any real estate not necessary for the accommodation of the
bank's or trust company's business shall be disposed of or charged off
its books according to paragraph (2).
(b) Any bank or trust company may acquire real estate in satisfaction of
any debts due it and may purchase real estate in satisfaction of any debts
due it, and may purchase real estate at judicial sales, but no bank or
trust company shall bid at any judicial sale a larger amount than is
necessary to protect its debts and costs. No real estate
or interest in oil and gas leasehold acquired in the satisfaction of debts
or upon judicial sales shall be
carried as a book asset of the bank or trust company for more than
10 years. At the termination of the 10 years such real estate
shall be
charged off. The commissioner may grant
an extension
not to exceed four years, if in the
commissioner's judgment it will be to the advantage
of the bank or trust company to carry the real estate
as an asset for such extended period.
Any such extensions issued shall be reviewed by the commissioner on an annual
basis.
History: L. 1947, ch. 102, § 31; L. 1971, ch. 32, § 2; L. 1973,
ch. 45, § 2; L. 1975, ch. 44, § 13; L. 1977, ch. 46, § 1; L. 1986,
ch. 56, § 1; L. 1987, ch. 54, § 6; L. 1988, ch. 61, § 2; L. 1989,
ch. 48, § 25;
L. 1990, ch. 56, § 1;
L. 1994, ch. 78, § 1;
L. 2000, ch. 45, § 1; July 1.
9-1102.Holding of real estate and personal
property; limitations.
(a) Any bank or trust company may own, purchase, lease, hold, encumber
or convey real property
and certain personal property subject to the following:
(1) Own suitable building, furniture and fixtures, stock in a single
trust company organized under the laws of the state of
Kansas, and stock in a safe deposit company organized under the laws of the
state of Kansas, and stock in a corporation organized under the laws of
this state owning real estate all or a part
of which is occupied or to be occupied by the bank or trust company;
(2) purchase, hold, encumber and convey real estate or lease, as lessor
or lessee, any building or buildings. Any real estate not necessary for the
bank's or trust company's accommodation in the transaction of its
business shall be disposed of or charged off its books by the bank or
trust company not later than
seven years after its intended use for banking purposes
ends, unless the state bank commissioner
authorizes the bank or trust company to retain such real estate on its
books for a period not to exceed an additional three years;
(3) a bank's or trust company's total investment or ownership at all
times in any one or more of the following shall not exceed 1/2 of its
unimpaired capital stock, surplus, undivided profits and capital notes and
debentures, and any such excess shall be removed from the bank's or trust
company's books unless approval is granted by the state bank commissioner:
(A) The book value of real estate plus all encumbrances thereon;
(B) the book value of furniture and fixtures;
(C) the book value of stock in a safe deposit company;
(D) the book value of stock in a trust company; or
(E) the book value of stock in a corporation organized under the laws
of this state owning real estate occupied by the bank or trust company
and advances to such corporation acquired or made after July 1, 1973.
Except that any real estate not necessary for the accommodation of the
bank's or trust company's business shall be disposed of or charged off
its books according to paragraph (2).
(b) Any bank or trust company may acquire real estate in satisfaction of
any debts due it and may purchase real estate in satisfaction of any debts
due it, and may purchase real estate at judicial sales, but no bank or
trust company shall bid at any judicial sale a larger amount than is
necessary to protect its debts and costs. No real estate
or interest in oil and gas leasehold acquired in the satisfaction of debts
or upon judicial sales shall be
carried as a book asset of the bank or trust company for more than
10 years. At the termination of the 10 years such real estate
shall be
charged off. The commissioner may grant
an extension
not to exceed four years, if in the
commissioner's judgment it will be to the advantage
of the bank or trust company to carry the real estate
as an asset for such extended period.
Any such extensions issued shall be reviewed by the commissioner on an annual
basis.
History: L. 1947, ch. 102, § 31; L. 1971, ch. 32, § 2; L. 1973,
ch. 45, § 2; L. 1975, ch. 44, § 13; L. 1977, ch. 46, § 1; L. 1986,
ch. 56, § 1; L. 1987, ch. 54, § 6; L. 1988, ch. 61, § 2; L. 1989,
ch. 48, § 25;
L. 1990, ch. 56, § 1;
L. 1994, ch. 78, § 1;
L. 2000, ch. 45, § 1; July 1.
9-1102.Holding of real estate and personal
property; limitations.
(a) Any bank or trust company may own, purchase, lease, hold, encumber
or convey real property
and certain personal property subject to the following:
(1) Own suitable building, furniture and fixtures, stock in a single
trust company organized under the laws of the state of
Kansas, and stock in a safe deposit company organized under the laws of the
state of Kansas, and stock in a corporation organized under the laws of
this state owning real estate all or a part
of which is occupied or to be occupied by the bank or trust company;
(2) purchase, hold, encumber and convey real estate or lease, as lessor
or lessee, any building or buildings. Any real estate not necessary for the
bank's or trust company's accommodation in the transaction of its
business shall be disposed of or charged off its books by the bank or
trust company not later than
seven years after its intended use for banking purposes
ends, unless the state bank commissioner
authorizes the bank or trust company to retain such real estate on its
books for a period not to exceed an additional three years;
(3) a bank's or trust company's total investment or ownership at all
times in any one or more of the following shall not exceed 1/2 of its
unimpaired capital stock, surplus, undivided profits and capital notes and
debentures, and any such excess shall be removed from the bank's or trust
company's books unless approval is granted by the state bank commissioner:
(A) The book value of real estate plus all encumbrances thereon;
(B) the book value of furniture and fixtures;
(C) the book value of stock in a safe deposit company;
(D) the book value of stock in a trust company; or
(E) the book value of stock in a corporation organized under the laws
of this state owning real estate occupied by the bank or trust company
and advances to such corporation acquired or made after July 1, 1973.
Except that any real estate not necessary for the accommodation of the
bank's or trust company's business shall be disposed of or charged off
its books according to paragraph (2).
(b) Any bank or trust company may acquire real estate in satisfaction of
any debts due it and may purchase real estate in satisfaction of any debts
due it, and may purchase real estate at judicial sales, but no bank or
trust company shall bid at any judicial sale a larger amount than is
necessary to protect its debts and costs. No real estate
or interest in oil and gas leasehold acquired in the satisfaction of debts
or upon judicial sales shall be
carried as a book asset of the bank or trust company for more than
10 years. At the termination of the 10 years such real estate
shall be
charged off. The commissioner may grant
an extension
not to exceed four years, if in the
commissioner's judgment it will be to the advantage
of the bank or trust company to carry the real estate
as an asset for such extended period.
Any such extensions issued shall be reviewed by the commissioner on an annual
basis.
History: L. 1947, ch. 102, § 31; L. 1971, ch. 32, § 2; L. 1973,
ch. 45, § 2; L. 1975, ch. 44, § 13; L. 1977, ch. 46, § 1; L. 1986,
ch. 56, § 1; L. 1987, ch. 54, § 6; L. 1988, ch. 61, § 2; L. 1989,
ch. 48, § 25;
L. 1990, ch. 56, § 1;
L. 1994, ch. 78, § 1;
L. 2000, ch. 45, § 1; July 1.