9-1917.Undelivered funds due creditors, depositors and shareholders
of defunct bank or trust company; duties of commissioner and state
treasurer; undistributed assets of defunct institutions fund.
On and after July 1, 1972, and in every case occurring heretofore and
hereafter, in which funds due to creditors, depositors and shareholders on
liquidation of institutions under the jurisdiction of the state bank
commissioner under K.S.A. 9-1901 et seq., and amendments
thereto, are undelivered, they
shall,
together with accrued interest, if any, be paid to the state bank
commissioner, who shall remit all such
payments to the state treasurer, in accordance with the provisions of
K.S.A. 75-4215, and amendments thereto, and
credit such individual creditors, depositors or shareholders account in the
undistributed assets of defunct institution fund ledger. Upon receipt of
each such remittance, the state
treasurer shall
deposit the entire amount in the state treasury
to the
credit of the
undistributed assets of
defunct institutions fund which is hereby created. Such fund
shall be used
only for refunds and payments of amounts due creditors, depositors and
shareholders on claims filed with and approved by the state bank
commissioner. Any balance remaining in the fund from any
single defunct
institution five years, during which time no person entitled thereto
shall have appeared to claim such funds, shall be transferred by the state
bank commissioner to the state general fund and appropriate entries made in
the individual creditors, depositors or shareholders record, showing the
date and disposition of the funds and shall further recite that they were
transferred by reason of this statute of limitation.
History: L. 1972, ch. 36, § 1;
L. 2001, ch. 5, § 46; July 1.
9-1917.Undelivered funds due creditors, depositors and shareholders
of defunct bank or trust company; duties of commissioner and state
treasurer; undistributed assets of defunct institutions fund.
On and after July 1, 1972, and in every case occurring heretofore and
hereafter, in which funds due to creditors, depositors and shareholders on
liquidation of institutions under the jurisdiction of the state bank
commissioner under K.S.A. 9-1901 et seq., and amendments
thereto, are undelivered, they
shall,
together with accrued interest, if any, be paid to the state bank
commissioner, who shall remit all such
payments to the state treasurer, in accordance with the provisions of
K.S.A. 75-4215, and amendments thereto, and
credit such individual creditors, depositors or shareholders account in the
undistributed assets of defunct institution fund ledger. Upon receipt of
each such remittance, the state
treasurer shall
deposit the entire amount in the state treasury
to the
credit of the
undistributed assets of
defunct institutions fund which is hereby created. Such fund
shall be used
only for refunds and payments of amounts due creditors, depositors and
shareholders on claims filed with and approved by the state bank
commissioner. Any balance remaining in the fund from any
single defunct
institution five years, during which time no person entitled thereto
shall have appeared to claim such funds, shall be transferred by the state
bank commissioner to the state general fund and appropriate entries made in
the individual creditors, depositors or shareholders record, showing the
date and disposition of the funds and shall further recite that they were
transferred by reason of this statute of limitation.
History: L. 1972, ch. 36, § 1;
L. 2001, ch. 5, § 46; July 1.
9-1917.Undelivered funds due creditors, depositors and shareholders
of defunct bank or trust company; duties of commissioner and state
treasurer; undistributed assets of defunct institutions fund.
On and after July 1, 1972, and in every case occurring heretofore and
hereafter, in which funds due to creditors, depositors and shareholders on
liquidation of institutions under the jurisdiction of the state bank
commissioner under K.S.A. 9-1901 et seq., and amendments
thereto, are undelivered, they
shall,
together with accrued interest, if any, be paid to the state bank
commissioner, who shall remit all such
payments to the state treasurer, in accordance with the provisions of
K.S.A. 75-4215, and amendments thereto, and
credit such individual creditors, depositors or shareholders account in the
undistributed assets of defunct institution fund ledger. Upon receipt of
each such remittance, the state
treasurer shall
deposit the entire amount in the state treasury
to the
credit of the
undistributed assets of
defunct institutions fund which is hereby created. Such fund
shall be used
only for refunds and payments of amounts due creditors, depositors and
shareholders on claims filed with and approved by the state bank
commissioner. Any balance remaining in the fund from any
single defunct
institution five years, during which time no person entitled thereto
shall have appeared to claim such funds, shall be transferred by the state
bank commissioner to the state general fund and appropriate entries made in
the individual creditors, depositors or shareholders record, showing the
date and disposition of the funds and shall further recite that they were
transferred by reason of this statute of limitation.
History: L. 1972, ch. 36, § 1;
L. 2001, ch. 5, § 46; July 1.