9-520.Same; ownership limitations; exceptions.
(a) Excluding shares held under the circumstances set out
in paragraph (2) of subsection (a) of K.S.A. 9-519,
and amendments thereto, no bank holding company or
any subsidiary thereof shall directly or indirectly acquire ownership or
control of, or power to vote, any of the voting shares of any bank which holds
Kansas deposits if, after such
acquisition, the bank holding company
and all subsidiaries would hold or control,
in the aggregate, more than 15% of total Kansas
deposits.
(b) This section shall not prohibit a bank holding company or any
subsidiary thereof from acquiring ownership or control of, or power to
vote, any of the voting shares of any bank if the commissioner, in the case of
a bank organized under the
laws of
this state, or the comptroller of the currency, in the case of a national
banking association, determines that an emergency exists and that the
acquisition is appropriate in order to protect the public interest against
the failure or probable failure of the bank.
(c) As used in this section, "Kansas deposits" means deposits, savings
deposits, shares or similar accounts held by banks, savings and loan
associations, savings banks and building and loan associations attributable to
any office in Kansas where deposits are accepted as determined by the
commissioner on the basis of the most recent reports to supervisory authorities
which are available at the time of the acquisition.
History: L. 1985, ch. 55, § 3;
L. 1990, ch. 54, § 2;
L. 1993, ch. 138, § 1;
L. 1997, ch. 59, § 3; July 1.
9-520.Same; ownership limitations; exceptions.
(a) Excluding shares held under the circumstances set out
in paragraph (2) of subsection (a) of K.S.A. 9-519,
and amendments thereto, no bank holding company or
any subsidiary thereof shall directly or indirectly acquire ownership or
control of, or power to vote, any of the voting shares of any bank which holds
Kansas deposits if, after such
acquisition, the bank holding company
and all subsidiaries would hold or control,
in the aggregate, more than 15% of total Kansas
deposits.
(b) This section shall not prohibit a bank holding company or any
subsidiary thereof from acquiring ownership or control of, or power to
vote, any of the voting shares of any bank if the commissioner, in the case of
a bank organized under the
laws of
this state, or the comptroller of the currency, in the case of a national
banking association, determines that an emergency exists and that the
acquisition is appropriate in order to protect the public interest against
the failure or probable failure of the bank.
(c) As used in this section, "Kansas deposits" means deposits, savings
deposits, shares or similar accounts held by banks, savings and loan
associations, savings banks and building and loan associations attributable to
any office in Kansas where deposits are accepted as determined by the
commissioner on the basis of the most recent reports to supervisory authorities
which are available at the time of the acquisition.
History: L. 1985, ch. 55, § 3;
L. 1990, ch. 54, § 2;
L. 1993, ch. 138, § 1;
L. 1997, ch. 59, § 3; July 1.
9-520.Same; ownership limitations; exceptions.
(a) Excluding shares held under the circumstances set out
in paragraph (2) of subsection (a) of K.S.A. 9-519,
and amendments thereto, no bank holding company or
any subsidiary thereof shall directly or indirectly acquire ownership or
control of, or power to vote, any of the voting shares of any bank which holds
Kansas deposits if, after such
acquisition, the bank holding company
and all subsidiaries would hold or control,
in the aggregate, more than 15% of total Kansas
deposits.
(b) This section shall not prohibit a bank holding company or any
subsidiary thereof from acquiring ownership or control of, or power to
vote, any of the voting shares of any bank if the commissioner, in the case of
a bank organized under the
laws of
this state, or the comptroller of the currency, in the case of a national
banking association, determines that an emergency exists and that the
acquisition is appropriate in order to protect the public interest against
the failure or probable failure of the bank.
(c) As used in this section, "Kansas deposits" means deposits, savings
deposits, shares or similar accounts held by banks, savings and loan
associations, savings banks and building and loan associations attributable to
any office in Kansas where deposits are accepted as determined by the
commissioner on the basis of the most recent reports to supervisory authorities
which are available at the time of the acquisition.
History: L. 1985, ch. 55, § 3;
L. 1990, ch. 54, § 2;
L. 1993, ch. 138, § 1;
L. 1997, ch. 59, § 3; July 1.