9-519.Bank holding companies; definitions.
For the purposes of K.S.A. 9-520 through 9-524, and
amendments thereto, and
K.S.A. 9-532 through 9-541, and amendments thereto, unless
otherwise required by the context:
(a) (1) "Bank holding company" means any company:
(A) Which directly or indirectly owns, controls, or has power to vote 25% or
more of any class of the voting shares of a bank
or 25% or more
of any class of the voting shares of a company which is or becomes a bank
holding company by virtue of this act;
(B) which controls in any manner the election of a majority of the
directors of a bank or of a company which is
or becomes
a bank holding company by virtue of this act;
(C) for the benefit of whose shareholders or members 25% or more of any
class of the voting shares of a bank
or 25% or more of any class
of the voting shares of a company which is or becomes a bank holding
company by virtue of this act, is held by trustees; or
(D) which, by virtue of acquisition of ownership or control of, or the
power to vote the voting shares of, a bank or another company, becomes a
bank holding company under this act.
(2) Notwithstanding paragraph (1), no company:
(A) Shall be deemed to be a bank holding company by virtue of
its ownership or control of shares acquired by it in connection with its
underwriting of securities if such shares are held only for such period of
time as will permit the sale thereof on a reasonable basis;
(B) formed for the sole purpose of participating in a proxy
solicitation shall be deemed to be a bank holding company by virtue of its
control of voting rights of shares acquired in the course of such solicitation;
(C) shall be deemed to be a bank holding company by virtue of
its ownership or control of shares acquired in securing or collecting a
debt previously contracted in good faith, provided such shares are disposed
of within a period of two years from the date on which such shares could
have been disposed of by such company;
(D) owning or controlling voting shares of a bank shall be
deemed to be a bank holding company by virtue of its ownership or control
of shares held in a fiduciary capacity except where such shares are held
for the benefit of such company or its shareholders.
(b) "Company" means any corporation, trust, limited partnership,
association or similar organization including a bank but shall not include
any corporation the majority of the shares of which are owned by the United
States or by any state, or include any individual or partnership.
(c) "Bank" means an insured bank
as defined in section 3(h) of the federal deposit insurance act, 12 U.S.C.
1813(h), except the term shall not include a national bank which engages only
in credit card operations, does not accept demand deposits or deposits that the
depositor may withdraw by check or similar means for payment to third parties
or others, does not accept any savings or time deposits of less than $100,000,
accepts deposits only from corporations which own 51% or more of the voting
shares of
the bank holding company or its parent corporation of which the bank engaging
only in credit card operations is a subsidiary, maintains
only one office that accepts deposits, and does not engage in the business of
making commercial loans.
(d) "Subsidiary" with respect to a specified bank holding company means:
(1) Any company more than 5% of the voting shares of which, excluding
shares owned by the United States or by any company wholly owned by the
United States, is directly or indirectly owned or controlled by such bank
holding company or is held by it with power to vote;
(2) any company the election of a majority of the directors of which is
controlled in any manner by such bank holding company; or
(3) any company more than 5% of the voting shares of which is held by
trustees for the benefit of such bank holding company or its shareholders.
(e) "Commissioner" means the Kansas state bank commissioner.
(f) "Kansas bank" means any bank, as defined by subsection (c), which, in
the case of a state chartered bank, is a bank chartered under the authority of
the state of Kansas, and in the case of a national banking association, a bank
with its main office located in Kansas.
(g) "Kansas bank holding company" means a bank holding company, as defined
by subsection (a), with total subsidiary bank deposits in Kansas which exceed
the bank holding company's subsidiary bank deposits in any other state.
(h) "Out-of-state bank holding company" means any holding company which is
not a Kansas bank holding company as defined in subsection (g).
(i) "Foreign bank" means any company organized under the laws of a foreign
country, a territory of the United States, Puerto Rico, Guam, American Samoa or
the Virgin Islands, which engages in the business of banking, or any subsidiary
or affiliate, organized under such laws, of any such company.
History: L. 1985, ch. 55, § 2;
L. 1991, ch. 45, § 1; L. 1991, ch. 46, § 1;
L. 1995, ch. 79, § 1;
L. 1996, ch. 175, § 17; Apr. 25.
9-519.Bank holding companies; definitions.
For the purposes of K.S.A. 9-520 through 9-524, and
amendments thereto, and
K.S.A. 9-532 through 9-541, and amendments thereto, unless
otherwise required by the context:
(a) (1) "Bank holding company" means any company:
(A) Which directly or indirectly owns, controls, or has power to vote 25% or
more of any class of the voting shares of a bank
or 25% or more
of any class of the voting shares of a company which is or becomes a bank
holding company by virtue of this act;
(B) which controls in any manner the election of a majority of the
directors of a bank or of a company which is
or becomes
a bank holding company by virtue of this act;
(C) for the benefit of whose shareholders or members 25% or more of any
class of the voting shares of a bank
or 25% or more of any class
of the voting shares of a company which is or becomes a bank holding
company by virtue of this act, is held by trustees; or
(D) which, by virtue of acquisition of ownership or control of, or the
power to vote the voting shares of, a bank or another company, becomes a
bank holding company under this act.
(2) Notwithstanding paragraph (1), no company:
(A) Shall be deemed to be a bank holding company by virtue of
its ownership or control of shares acquired by it in connection with its
underwriting of securities if such shares are held only for such period of
time as will permit the sale thereof on a reasonable basis;
(B) formed for the sole purpose of participating in a proxy
solicitation shall be deemed to be a bank holding company by virtue of its
control of voting rights of shares acquired in the course of such solicitation;
(C) shall be deemed to be a bank holding company by virtue of
its ownership or control of shares acquired in securing or collecting a
debt previously contracted in good faith, provided such shares are disposed
of within a period of two years from the date on which such shares could
have been disposed of by such company;
(D) owning or controlling voting shares of a bank shall be
deemed to be a bank holding company by virtue of its ownership or control
of shares held in a fiduciary capacity except where such shares are held
for the benefit of such company or its shareholders.
(b) "Company" means any corporation, trust, limited partnership,
association or similar organization including a bank but shall not include
any corporation the majority of the shares of which are owned by the United
States or by any state, or include any individual or partnership.
(c) "Bank" means an insured bank
as defined in section 3(h) of the federal deposit insurance act, 12 U.S.C.
1813(h), except the term shall not include a national bank which engages only
in credit card operations, does not accept demand deposits or deposits that the
depositor may withdraw by check or similar means for payment to third parties
or others, does not accept any savings or time deposits of less than $100,000,
accepts deposits only from corporations which own 51% or more of the voting
shares of
the bank holding company or its parent corporation of which the bank engaging
only in credit card operations is a subsidiary, maintains
only one office that accepts deposits, and does not engage in the business of
making commercial loans.
(d) "Subsidiary" with respect to a specified bank holding company means:
(1) Any company more than 5% of the voting shares of which, excluding
shares owned by the United States or by any company wholly owned by the
United States, is directly or indirectly owned or controlled by such bank
holding company or is held by it with power to vote;
(2) any company the election of a majority of the directors of which is
controlled in any manner by such bank holding company; or
(3) any company more than 5% of the voting shares of which is held by
trustees for the benefit of such bank holding company or its shareholders.
(e) "Commissioner" means the Kansas state bank commissioner.
(f) "Kansas bank" means any bank, as defined by subsection (c), which, in
the case of a state chartered bank, is a bank chartered under the authority of
the state of Kansas, and in the case of a national banking association, a bank
with its main office located in Kansas.
(g) "Kansas bank holding company" means a bank holding company, as defined
by subsection (a), with total subsidiary bank deposits in Kansas which exceed
the bank holding company's subsidiary bank deposits in any other state.
(h) "Out-of-state bank holding company" means any holding company which is
not a Kansas bank holding company as defined in subsection (g).
(i) "Foreign bank" means any company organized under the laws of a foreign
country, a territory of the United States, Puerto Rico, Guam, American Samoa or
the Virgin Islands, which engages in the business of banking, or any subsidiary
or affiliate, organized under such laws, of any such company.
History: L. 1985, ch. 55, § 2;
L. 1991, ch. 45, § 1; L. 1991, ch. 46, § 1;
L. 1995, ch. 79, § 1;
L. 1996, ch. 175, § 17; Apr. 25.
9-519.Bank holding companies; definitions.
For the purposes of K.S.A. 9-520 through 9-524, and
amendments thereto, and
K.S.A. 9-532 through 9-541, and amendments thereto, unless
otherwise required by the context:
(a) (1) "Bank holding company" means any company:
(A) Which directly or indirectly owns, controls, or has power to vote 25% or
more of any class of the voting shares of a bank
or 25% or more
of any class of the voting shares of a company which is or becomes a bank
holding company by virtue of this act;
(B) which controls in any manner the election of a majority of the
directors of a bank or of a company which is
or becomes
a bank holding company by virtue of this act;
(C) for the benefit of whose shareholders or members 25% or more of any
class of the voting shares of a bank
or 25% or more of any class
of the voting shares of a company which is or becomes a bank holding
company by virtue of this act, is held by trustees; or
(D) which, by virtue of acquisition of ownership or control of, or the
power to vote the voting shares of, a bank or another company, becomes a
bank holding company under this act.
(2) Notwithstanding paragraph (1), no company:
(A) Shall be deemed to be a bank holding company by virtue of
its ownership or control of shares acquired by it in connection with its
underwriting of securities if such shares are held only for such period of
time as will permit the sale thereof on a reasonable basis;
(B) formed for the sole purpose of participating in a proxy
solicitation shall be deemed to be a bank holding company by virtue of its
control of voting rights of shares acquired in the course of such solicitation;
(C) shall be deemed to be a bank holding company by virtue of
its ownership or control of shares acquired in securing or collecting a
debt previously contracted in good faith, provided such shares are disposed
of within a period of two years from the date on which such shares could
have been disposed of by such company;
(D) owning or controlling voting shares of a bank shall be
deemed to be a bank holding company by virtue of its ownership or control
of shares held in a fiduciary capacity except where such shares are held
for the benefit of such company or its shareholders.
(b) "Company" means any corporation, trust, limited partnership,
association or similar organization including a bank but shall not include
any corporation the majority of the shares of which are owned by the United
States or by any state, or include any individual or partnership.
(c) "Bank" means an insured bank
as defined in section 3(h) of the federal deposit insurance act, 12 U.S.C.
1813(h), except the term shall not include a national bank which engages only
in credit card operations, does not accept demand deposits or deposits that the
depositor may withdraw by check or similar means for payment to third parties
or others, does not accept any savings or time deposits of less than $100,000,
accepts deposits only from corporations which own 51% or more of the voting
shares of
the bank holding company or its parent corporation of which the bank engaging
only in credit card operations is a subsidiary, maintains
only one office that accepts deposits, and does not engage in the business of
making commercial loans.
(d) "Subsidiary" with respect to a specified bank holding company means:
(1) Any company more than 5% of the voting shares of which, excluding
shares owned by the United States or by any company wholly owned by the
United States, is directly or indirectly owned or controlled by such bank
holding company or is held by it with power to vote;
(2) any company the election of a majority of the directors of which is
controlled in any manner by such bank holding company; or
(3) any company more than 5% of the voting shares of which is held by
trustees for the benefit of such bank holding company or its shareholders.
(e) "Commissioner" means the Kansas state bank commissioner.
(f) "Kansas bank" means any bank, as defined by subsection (c), which, in
the case of a state chartered bank, is a bank chartered under the authority of
the state of Kansas, and in the case of a national banking association, a bank
with its main office located in Kansas.
(g) "Kansas bank holding company" means a bank holding company, as defined
by subsection (a), with total subsidiary bank deposits in Kansas which exceed
the bank holding company's subsidiary bank deposits in any other state.
(h) "Out-of-state bank holding company" means any holding company which is
not a Kansas bank holding company as defined in subsection (g).
(i) "Foreign bank" means any company organized under the laws of a foreign
country, a territory of the United States, Puerto Rico, Guam, American Samoa or
the Virgin Islands, which engages in the business of banking, or any subsidiary
or affiliate, organized under such laws, of any such company.
History: L. 1985, ch. 55, § 2;
L. 1991, ch. 45, § 1; L. 1991, ch. 46, § 1;
L. 1995, ch. 79, § 1;
L. 1996, ch. 175, § 17; Apr. 25.