9-1127c.Same; investments in corporations
performing certain services
under 9-1127b; approval required.
(a) No state bank shall invest in the capital stock of a
bank service corporation that performs any service under the authority of
subsections (c), (d) or (e) of K.S.A. 9-1127b, and amendments thereto,
without the prior approval of the state bank commissioner.
(b) No state bank shall invest in the capital stock of a bank service
corporation that performs any service under authority of subsection (f)
of K.S.A. 9-1127b, and amendments thereto, and no bank service
corporation shall perform any activity under subsection (f) and K.S.A.
9-1127b, and amendments thereto, without the prior approval of the state
bank commissioner.
(c) In determining whether to approve or deny any application for prior
approval under this section, the state bank commissioner is authorized to
consider the financial and
managerial resources and future prospects of the bank or banks and bank service
corporation involved, including the financial capability of the bank to make a
proposed investment under this act, and possible adverse affects such as undue
concentration of resources, unfair or decreased competition, conflicts of
interest or unsafe or unsound banking practices.
(d) In the event the state bank commissioner fails to act on any
application under this section within 90
days of the submission of a complete application to them, the application shall
be deemed approved.
History: L. 1984, ch. 48, § 8;
L. 2001, ch. 87, § 10; July 1.
9-1127c.Same; investments in corporations
performing certain services
under 9-1127b; approval required.
(a) No state bank shall invest in the capital stock of a
bank service corporation that performs any service under the authority of
subsections (c), (d) or (e) of K.S.A. 9-1127b, and amendments thereto,
without the prior approval of the state bank commissioner.
(b) No state bank shall invest in the capital stock of a bank service
corporation that performs any service under authority of subsection (f)
of K.S.A. 9-1127b, and amendments thereto, and no bank service
corporation shall perform any activity under subsection (f) and K.S.A.
9-1127b, and amendments thereto, without the prior approval of the state
bank commissioner.
(c) In determining whether to approve or deny any application for prior
approval under this section, the state bank commissioner is authorized to
consider the financial and
managerial resources and future prospects of the bank or banks and bank service
corporation involved, including the financial capability of the bank to make a
proposed investment under this act, and possible adverse affects such as undue
concentration of resources, unfair or decreased competition, conflicts of
interest or unsafe or unsound banking practices.
(d) In the event the state bank commissioner fails to act on any
application under this section within 90
days of the submission of a complete application to them, the application shall
be deemed approved.
History: L. 1984, ch. 48, § 8;
L. 2001, ch. 87, § 10; July 1.
9-1127c.Same; investments in corporations
performing certain services
under 9-1127b; approval required.
(a) No state bank shall invest in the capital stock of a
bank service corporation that performs any service under the authority of
subsections (c), (d) or (e) of K.S.A. 9-1127b, and amendments thereto,
without the prior approval of the state bank commissioner.
(b) No state bank shall invest in the capital stock of a bank service
corporation that performs any service under authority of subsection (f)
of K.S.A. 9-1127b, and amendments thereto, and no bank service
corporation shall perform any activity under subsection (f) and K.S.A.
9-1127b, and amendments thereto, without the prior approval of the state
bank commissioner.
(c) In determining whether to approve or deny any application for prior
approval under this section, the state bank commissioner is authorized to
consider the financial and
managerial resources and future prospects of the bank or banks and bank service
corporation involved, including the financial capability of the bank to make a
proposed investment under this act, and possible adverse affects such as undue
concentration of resources, unfair or decreased competition, conflicts of
interest or unsafe or unsound banking practices.
(d) In the event the state bank commissioner fails to act on any
application under this section within 90
days of the submission of a complete application to them, the application shall
be deemed approved.
History: L. 1984, ch. 48, § 8;
L. 2001, ch. 87, § 10; July 1.