9-541.Acquisition of bank by out-of-state bank holding company; age
limitation; exceptions.
(a) No out-of-state bank holding company or any subsidiary
thereof shall directly or indirectly acquire ownership or control of, or power
to vote, more than 5% of any class of the voting shares of any Kansas bank
unless such Kansas bank has been in existence and actively engaged in business
for five or more years.
(b) This section shall not prohibit an out-of-state bank holding company or
any subsidiary thereof from acquiring ownership or control of, or power to
vote, more than 5% of the voting shares of any Kansas bank which has been
organized solely for the purpose of, and does not open for business prior to,
facilitating a merger of such Kansas bank with or into a Kansas bank which has
been in existence and actively engaged in business for five or more years, or a
consolidation of such Kansas bank and one or more Kansas banks which have been
in existence and actively engaged in business for five or more years.
(c) This section shall not prohibit an out-of-state bank holding company or
any subsidiary thereof from acquiring ownership or control of, or power to
vote, more than 5% of any class of the voting shares of any Kansas 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 Kansas bank.
9-541.Acquisition of bank by out-of-state bank holding company; age
limitation; exceptions.
(a) No out-of-state bank holding company or any subsidiary
thereof shall directly or indirectly acquire ownership or control of, or power
to vote, more than 5% of any class of the voting shares of any Kansas bank
unless such Kansas bank has been in existence and actively engaged in business
for five or more years.
(b) This section shall not prohibit an out-of-state bank holding company or
any subsidiary thereof from acquiring ownership or control of, or power to
vote, more than 5% of the voting shares of any Kansas bank which has been
organized solely for the purpose of, and does not open for business prior to,
facilitating a merger of such Kansas bank with or into a Kansas bank which has
been in existence and actively engaged in business for five or more years, or a
consolidation of such Kansas bank and one or more Kansas banks which have been
in existence and actively engaged in business for five or more years.
(c) This section shall not prohibit an out-of-state bank holding company or
any subsidiary thereof from acquiring ownership or control of, or power to
vote, more than 5% of any class of the voting shares of any Kansas 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 Kansas bank.
9-541.Acquisition of bank by out-of-state bank holding company; age
limitation; exceptions.
(a) No out-of-state bank holding company or any subsidiary
thereof shall directly or indirectly acquire ownership or control of, or power
to vote, more than 5% of any class of the voting shares of any Kansas bank
unless such Kansas bank has been in existence and actively engaged in business
for five or more years.
(b) This section shall not prohibit an out-of-state bank holding company or
any subsidiary thereof from acquiring ownership or control of, or power to
vote, more than 5% of the voting shares of any Kansas bank which has been
organized solely for the purpose of, and does not open for business prior to,
facilitating a merger of such Kansas bank with or into a Kansas bank which has
been in existence and actively engaged in business for five or more years, or a
consolidation of such Kansas bank and one or more Kansas banks which have been
in existence and actively engaged in business for five or more years.
(c) This section shall not prohibit an out-of-state bank holding company or
any subsidiary thereof from acquiring ownership or control of, or power to
vote, more than 5% of any class of the voting shares of any Kansas 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 Kansas bank.