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9-1109

Chapter 9.--BANKS AND BANKING; TRUST COMPANIES Article 11.--BANKING CODE; POWERS

9-1109. Borrowing by liquidating bank or trust company. The board of directors of any bank or trust company in the process of voluntary liquidation may borrow a sum of money not in excess of an amount equal to one hundred percent of its total deposit liabilities and may pledge therefor its assets: Provided, That the commissioner first must approve any such transaction including the nature and amount of the security.

History: L. 1947, ch. 102, § 38; June 30.

State Codes and Statutes

Statutes > Kansas > Chapter9 > Article11 > Statutes_2519

9-1109

Chapter 9.--BANKS AND BANKING; TRUST COMPANIES Article 11.--BANKING CODE; POWERS

9-1109. Borrowing by liquidating bank or trust company. The board of directors of any bank or trust company in the process of voluntary liquidation may borrow a sum of money not in excess of an amount equal to one hundred percent of its total deposit liabilities and may pledge therefor its assets: Provided, That the commissioner first must approve any such transaction including the nature and amount of the security.

History: L. 1947, ch. 102, § 38; June 30.

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State Codes and Statutes

Statutes > Kansas > Chapter9 > Article11 > Statutes_2519

9-1109

Chapter 9.--BANKS AND BANKING; TRUST COMPANIES Article 11.--BANKING CODE; POWERS

9-1109. Borrowing by liquidating bank or trust company. The board of directors of any bank or trust company in the process of voluntary liquidation may borrow a sum of money not in excess of an amount equal to one hundred percent of its total deposit liabilities and may pledge therefor its assets: Provided, That the commissioner first must approve any such transaction including the nature and amount of the security.

History: L. 1947, ch. 102, § 38; June 30.