9-2108.Trust service office; establishment or
relocation; application.
It is unlawful for any trust company to establish
or operate a trust service office or relocate an
existing trust service office
except as provided in this act.
(a) As used in this section:
"Trust service office" means any
office, agency or other place of business located within this state other than
the place of business specified in the trust company's certificate of
authority, at which the powers granted to trust companies under K.S.A.
9-2103,
and amendments thereto, are exercised.
For the purposes of this section, any activity in
compliance with K.S.A. 9-2107, and amendments thereto, does not
constitute a trust service office.
(b) After first applying for and obtaining the approval of the commissioner
under this section, one or more trust service
offices may be established or operated in any city within this state by a trust
company incorporated under the laws of
this state.
(c) An application to establish or operate a trust service
office or to
relocate an existing trust service office shall be in such form and contain
such information as required
by the commissioner and shall include certified copies of the following
documents:
(1) The written action taken by the board of directors of the trust company
approving the establishment or operation of the proposed trust service office
or the proposed relocation of the trust service office;
(2) all other required regulatory approvals; and
(3) an affidavit of publication of notice of intent to file an application
to establish or operate a trust service office or relocate an existing trust
service office. Publication of the notice shall be on the same day for two
consecutive weeks in the official newspaper of the city where the proposed
trust service office is to be located. The notice shall be in the form
prescribed by the commissioner and shall contain the name of the applicant, the
location of the proposed trust service office, the proposed date of filing of
the application with the commissioner, a solicitation for written comments
concerning the application and a notice of the public's right to file a written
request for a public hearing for the purpose of presenting oral or written
evidence regarding the proposed trust service office. All comments and
requests for public hearing shall be filed with the commissioner on or before
the 30th day after the date the application is filed.
(d) A trust
company making application to the commissioner for approval of a trust service
office under this section shall pay to the commissioner a fee, in an amount
established by rules and regulations of the commissioner, adopted pursuant to
K.S.A. 9-1713, and amendments thereto, to defray the expenses of the
commissioner or designee in the examination and investigation of the
application. The commissioner shall remit all amounts received under this
section to the state treasurer in
accordance with
the provisions of K.S.A. 75-4215, and amendments thereto. Upon receipt of each
such remittance, the state treasurer shall deposit the entire amount in the
state treasury to the credit of a separate
account
in the state treasury for each application. The moneys in each such account
shall be used to pay the expenses of the commissioner or designee in the
examination and investigation of the application to which it relates and any
unused balance shall be transferred to the bank commissioner fee
fund.
(e) Upon filing of any such application with the commissioner, the
commissioner shall make or cause to be made, a careful examination and
investigation concerning:
(1) The reasonable probability of usefulness and
success of the proposed trust service office;
(2) the applicant trust company's financial history and
condition including the character, qualifications and experience
of the officers employed by the trust company; and
(3) whether the proposed trust service office can be established
without undue
injury to properly conducted existing banks, national banking associations and
trust companies. If the commissioner determines any of such matters
unfavorably to the applicants, the application shall be disapproved, but if
not, the application shall be approved.
(f) If no written request for public hearing is filed, the commissioner
shall render approval or disapproval of the application within 60 days of the
date upon which the application was filed.
(g) If a written request for public hearing is filed, the commissioner shall hold
a public hearing in a location determined by the commissioner within 30 days of
the close of the comment period. Notice of the time, date and place of the
hearing shall be published by the applicant in a newspaper of general
circulation in the county where the proposed trust service office is to be
located, not less than 10 or more than 30 days prior to the date of the
hearing, and an affidavit of publication shall be filed with the commissioner.
At any such hearing, all interested persons shall be allowed to present written
and oral evidence to the commissioner in support of or in opposition to the
application. Upon completion of a transcript of the testimony given at any
such hearing, the transcript shall be filed in the office of the commissioner.
Within 14 days after the public hearing, the commissioner shall approve or
disapprove the application after consideration of the application and evidence
gathered during the commissioner's investigation.
(h) The commissioner may extend the period for approval or disapproval if
the commissioner determines that any information required by this section has
not been furnished, any material information submitted is inaccurate or
additional investigation is required. The commissioner, prior to expiration of
the application period as provided in this section, shall give written notice
to the applicant of the commissioner's intent to extend the period and such
notice shall include a specific date for expiration of the extension period.
If any information remains incomplete or inaccurate upon the expiration of the
extension period the application shall be disapproved.
(i) Within 15 days of the date after the commissioner's approval or
disapproval of the application, the applicant or any individual or corporation
who filed a request for and presented evidence at the public hearing shall have
the right to appeal in writing to the state banking board the commissioner's
determination, by filing a notice of appeal with the commissioner. The state
banking board shall fix a date for a hearing, which hearing shall be held
within 45 days from the date such notice of appeal is filed.
The board shall conduct the hearing in accordance with the provisions of the
Kansas administrative procedure act and render its decision affirming or
rescinding the determination of the commissioner. Action of the board pursuant
to this section is subject to review in accordance with the act for judicial
review and civil enforcement of agency actions. Any party which files an
appeal to the state banking board of the commissioner's determination shall pay
to the commissioner a fee in an amount established by rules and regulations of
the commissioner, adopted pursuant to K.S.A. 9-1713, and amendments
thereto, to
defray the board's expenses associated with the conduct of the appeal.
(j) When the commissioner determines that a trust company domiciled in this
state has established or is operating a trust service office in violation of
the laws governing the operation of such trust company, the commissioner shall
give written notice to the trust company of such determination. Within 15 days
after receipt of such notification, the trust company may appeal in writing to
the state banking board the commissioner's determination. The board shall fix
a date for hearing, which hearing shall be held within 45 days from the date of
such appeal and shall be conducted in accordance with the provisions
of the Kansas administrative procedure act. At such hearing the board shall
hear all matters relevant to the commissioner's determination and shall approve
or disapprove the commissioner's determination, and the decision of the board
shall be final and conclusive. If the trust company does not appeal to the
state banking board from the commissioner's determination or if an appeal is
made and the commissioner's determination is upheld by the board, the
commissioner may proceed as provided in K.S.A. 9-1714, and amendments
thereto,
until such time as the commissioner determines the trust company is in full
compliance with the laws governing the operation of a trust service office.
History: L. 1993, ch. 81, § 1;
L. 1994, ch. 51, § 2;
L. 2001, ch. 5, § 49; July 1.
9-2108.Trust service office; establishment or
relocation; application.
It is unlawful for any trust company to establish
or operate a trust service office or relocate an
existing trust service office
except as provided in this act.
(a) As used in this section:
"Trust service office" means any
office, agency or other place of business located within this state other than
the place of business specified in the trust company's certificate of
authority, at which the powers granted to trust companies under K.S.A.
9-2103,
and amendments thereto, are exercised.
For the purposes of this section, any activity in
compliance with K.S.A. 9-2107, and amendments thereto, does not
constitute a trust service office.
(b) After first applying for and obtaining the approval of the commissioner
under this section, one or more trust service
offices may be established or operated in any city within this state by a trust
company incorporated under the laws of
this state.
(c) An application to establish or operate a trust service
office or to
relocate an existing trust service office shall be in such form and contain
such information as required
by the commissioner and shall include certified copies of the following
documents:
(1) The written action taken by the board of directors of the trust company
approving the establishment or operation of the proposed trust service office
or the proposed relocation of the trust service office;
(2) all other required regulatory approvals; and
(3) an affidavit of publication of notice of intent to file an application
to establish or operate a trust service office or relocate an existing trust
service office. Publication of the notice shall be on the same day for two
consecutive weeks in the official newspaper of the city where the proposed
trust service office is to be located. The notice shall be in the form
prescribed by the commissioner and shall contain the name of the applicant, the
location of the proposed trust service office, the proposed date of filing of
the application with the commissioner, a solicitation for written comments
concerning the application and a notice of the public's right to file a written
request for a public hearing for the purpose of presenting oral or written
evidence regarding the proposed trust service office. All comments and
requests for public hearing shall be filed with the commissioner on or before
the 30th day after the date the application is filed.
(d) A trust
company making application to the commissioner for approval of a trust service
office under this section shall pay to the commissioner a fee, in an amount
established by rules and regulations of the commissioner, adopted pursuant to
K.S.A. 9-1713, and amendments thereto, to defray the expenses of the
commissioner or designee in the examination and investigation of the
application. The commissioner shall remit all amounts received under this
section to the state treasurer in
accordance with
the provisions of K.S.A. 75-4215, and amendments thereto. Upon receipt of each
such remittance, the state treasurer shall deposit the entire amount in the
state treasury to the credit of a separate
account
in the state treasury for each application. The moneys in each such account
shall be used to pay the expenses of the commissioner or designee in the
examination and investigation of the application to which it relates and any
unused balance shall be transferred to the bank commissioner fee
fund.
(e) Upon filing of any such application with the commissioner, the
commissioner shall make or cause to be made, a careful examination and
investigation concerning:
(1) The reasonable probability of usefulness and
success of the proposed trust service office;
(2) the applicant trust company's financial history and
condition including the character, qualifications and experience
of the officers employed by the trust company; and
(3) whether the proposed trust service office can be established
without undue
injury to properly conducted existing banks, national banking associations and
trust companies. If the commissioner determines any of such matters
unfavorably to the applicants, the application shall be disapproved, but if
not, the application shall be approved.
(f) If no written request for public hearing is filed, the commissioner
shall render approval or disapproval of the application within 60 days of the
date upon which the application was filed.
(g) If a written request for public hearing is filed, the commissioner shall hold
a public hearing in a location determined by the commissioner within 30 days of
the close of the comment period. Notice of the time, date and place of the
hearing shall be published by the applicant in a newspaper of general
circulation in the county where the proposed trust service office is to be
located, not less than 10 or more than 30 days prior to the date of the
hearing, and an affidavit of publication shall be filed with the commissioner.
At any such hearing, all interested persons shall be allowed to present written
and oral evidence to the commissioner in support of or in opposition to the
application. Upon completion of a transcript of the testimony given at any
such hearing, the transcript shall be filed in the office of the commissioner.
Within 14 days after the public hearing, the commissioner shall approve or
disapprove the application after consideration of the application and evidence
gathered during the commissioner's investigation.
(h) The commissioner may extend the period for approval or disapproval if
the commissioner determines that any information required by this section has
not been furnished, any material information submitted is inaccurate or
additional investigation is required. The commissioner, prior to expiration of
the application period as provided in this section, shall give written notice
to the applicant of the commissioner's intent to extend the period and such
notice shall include a specific date for expiration of the extension period.
If any information remains incomplete or inaccurate upon the expiration of the
extension period the application shall be disapproved.
(i) Within 15 days of the date after the commissioner's approval or
disapproval of the application, the applicant or any individual or corporation
who filed a request for and presented evidence at the public hearing shall have
the right to appeal in writing to the state banking board the commissioner's
determination, by filing a notice of appeal with the commissioner. The state
banking board shall fix a date for a hearing, which hearing shall be held
within 45 days from the date such notice of appeal is filed.
The board shall conduct the hearing in accordance with the provisions of the
Kansas administrative procedure act and render its decision affirming or
rescinding the determination of the commissioner. Action of the board pursuant
to this section is subject to review in accordance with the act for judicial
review and civil enforcement of agency actions. Any party which files an
appeal to the state banking board of the commissioner's determination shall pay
to the commissioner a fee in an amount established by rules and regulations of
the commissioner, adopted pursuant to K.S.A. 9-1713, and amendments
thereto, to
defray the board's expenses associated with the conduct of the appeal.
(j) When the commissioner determines that a trust company domiciled in this
state has established or is operating a trust service office in violation of
the laws governing the operation of such trust company, the commissioner shall
give written notice to the trust company of such determination. Within 15 days
after receipt of such notification, the trust company may appeal in writing to
the state banking board the commissioner's determination. The board shall fix
a date for hearing, which hearing shall be held within 45 days from the date of
such appeal and shall be conducted in accordance with the provisions
of the Kansas administrative procedure act. At such hearing the board shall
hear all matters relevant to the commissioner's determination and shall approve
or disapprove the commissioner's determination, and the decision of the board
shall be final and conclusive. If the trust company does not appeal to the
state banking board from the commissioner's determination or if an appeal is
made and the commissioner's determination is upheld by the board, the
commissioner may proceed as provided in K.S.A. 9-1714, and amendments
thereto,
until such time as the commissioner determines the trust company is in full
compliance with the laws governing the operation of a trust service office.
History: L. 1993, ch. 81, § 1;
L. 1994, ch. 51, § 2;
L. 2001, ch. 5, § 49; July 1.
9-2108.Trust service office; establishment or
relocation; application.
It is unlawful for any trust company to establish
or operate a trust service office or relocate an
existing trust service office
except as provided in this act.
(a) As used in this section:
"Trust service office" means any
office, agency or other place of business located within this state other than
the place of business specified in the trust company's certificate of
authority, at which the powers granted to trust companies under K.S.A.
9-2103,
and amendments thereto, are exercised.
For the purposes of this section, any activity in
compliance with K.S.A. 9-2107, and amendments thereto, does not
constitute a trust service office.
(b) After first applying for and obtaining the approval of the commissioner
under this section, one or more trust service
offices may be established or operated in any city within this state by a trust
company incorporated under the laws of
this state.
(c) An application to establish or operate a trust service
office or to
relocate an existing trust service office shall be in such form and contain
such information as required
by the commissioner and shall include certified copies of the following
documents:
(1) The written action taken by the board of directors of the trust company
approving the establishment or operation of the proposed trust service office
or the proposed relocation of the trust service office;
(2) all other required regulatory approvals; and
(3) an affidavit of publication of notice of intent to file an application
to establish or operate a trust service office or relocate an existing trust
service office. Publication of the notice shall be on the same day for two
consecutive weeks in the official newspaper of the city where the proposed
trust service office is to be located. The notice shall be in the form
prescribed by the commissioner and shall contain the name of the applicant, the
location of the proposed trust service office, the proposed date of filing of
the application with the commissioner, a solicitation for written comments
concerning the application and a notice of the public's right to file a written
request for a public hearing for the purpose of presenting oral or written
evidence regarding the proposed trust service office. All comments and
requests for public hearing shall be filed with the commissioner on or before
the 30th day after the date the application is filed.
(d) A trust
company making application to the commissioner for approval of a trust service
office under this section shall pay to the commissioner a fee, in an amount
established by rules and regulations of the commissioner, adopted pursuant to
K.S.A. 9-1713, and amendments thereto, to defray the expenses of the
commissioner or designee in the examination and investigation of the
application. The commissioner shall remit all amounts received under this
section to the state treasurer in
accordance with
the provisions of K.S.A. 75-4215, and amendments thereto. Upon receipt of each
such remittance, the state treasurer shall deposit the entire amount in the
state treasury to the credit of a separate
account
in the state treasury for each application. The moneys in each such account
shall be used to pay the expenses of the commissioner or designee in the
examination and investigation of the application to which it relates and any
unused balance shall be transferred to the bank commissioner fee
fund.
(e) Upon filing of any such application with the commissioner, the
commissioner shall make or cause to be made, a careful examination and
investigation concerning:
(1) The reasonable probability of usefulness and
success of the proposed trust service office;
(2) the applicant trust company's financial history and
condition including the character, qualifications and experience
of the officers employed by the trust company; and
(3) whether the proposed trust service office can be established
without undue
injury to properly conducted existing banks, national banking associations and
trust companies. If the commissioner determines any of such matters
unfavorably to the applicants, the application shall be disapproved, but if
not, the application shall be approved.
(f) If no written request for public hearing is filed, the commissioner
shall render approval or disapproval of the application within 60 days of the
date upon which the application was filed.
(g) If a written request for public hearing is filed, the commissioner shall hold
a public hearing in a location determined by the commissioner within 30 days of
the close of the comment period. Notice of the time, date and place of the
hearing shall be published by the applicant in a newspaper of general
circulation in the county where the proposed trust service office is to be
located, not less than 10 or more than 30 days prior to the date of the
hearing, and an affidavit of publication shall be filed with the commissioner.
At any such hearing, all interested persons shall be allowed to present written
and oral evidence to the commissioner in support of or in opposition to the
application. Upon completion of a transcript of the testimony given at any
such hearing, the transcript shall be filed in the office of the commissioner.
Within 14 days after the public hearing, the commissioner shall approve or
disapprove the application after consideration of the application and evidence
gathered during the commissioner's investigation.
(h) The commissioner may extend the period for approval or disapproval if
the commissioner determines that any information required by this section has
not been furnished, any material information submitted is inaccurate or
additional investigation is required. The commissioner, prior to expiration of
the application period as provided in this section, shall give written notice
to the applicant of the commissioner's intent to extend the period and such
notice shall include a specific date for expiration of the extension period.
If any information remains incomplete or inaccurate upon the expiration of the
extension period the application shall be disapproved.
(i) Within 15 days of the date after the commissioner's approval or
disapproval of the application, the applicant or any individual or corporation
who filed a request for and presented evidence at the public hearing shall have
the right to appeal in writing to the state banking board the commissioner's
determination, by filing a notice of appeal with the commissioner. The state
banking board shall fix a date for a hearing, which hearing shall be held
within 45 days from the date such notice of appeal is filed.
The board shall conduct the hearing in accordance with the provisions of the
Kansas administrative procedure act and render its decision affirming or
rescinding the determination of the commissioner. Action of the board pursuant
to this section is subject to review in accordance with the act for judicial
review and civil enforcement of agency actions. Any party which files an
appeal to the state banking board of the commissioner's determination shall pay
to the commissioner a fee in an amount established by rules and regulations of
the commissioner, adopted pursuant to K.S.A. 9-1713, and amendments
thereto, to
defray the board's expenses associated with the conduct of the appeal.
(j) When the commissioner determines that a trust company domiciled in this
state has established or is operating a trust service office in violation of
the laws governing the operation of such trust company, the commissioner shall
give written notice to the trust company of such determination. Within 15 days
after receipt of such notification, the trust company may appeal in writing to
the state banking board the commissioner's determination. The board shall fix
a date for hearing, which hearing shall be held within 45 days from the date of
such appeal and shall be conducted in accordance with the provisions
of the Kansas administrative procedure act. At such hearing the board shall
hear all matters relevant to the commissioner's determination and shall approve
or disapprove the commissioner's determination, and the decision of the board
shall be final and conclusive. If the trust company does not appeal to the
state banking board from the commissioner's determination or if an appeal is
made and the commissioner's determination is upheld by the board, the
commissioner may proceed as provided in K.S.A. 9-1714, and amendments
thereto,
until such time as the commissioner determines the trust company is in full
compliance with the laws governing the operation of a trust service office.
History: L. 1993, ch. 81, § 1;
L. 1994, ch. 51, § 2;
L. 2001, ch. 5, § 49; July 1.