Kansas Statutes Annotated
Updated Through the 2015 Legislative Session

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Statute Number:9-1612
Chapter Title:BANKS AND BANKING; TRUST COMPANIES
Article Title:BANKING CODE; TRUST AUTHORITY
Tax Type:Privilege
Brief Description:Company having control over a bank or trust company defined.
Keywords:


Body:

9-1612.Company having control over a bank or trust company defined.For the purposes of K.S.A.9-1601through9-1611, and amendments thereto, any company has control over a bank or trust company if the company directly or indirectly, or acting through one or more persons:
(a) Owns, controls or has power to vote 25% or more of any class of voting securities of the bank or trust company;
(b) controls, in any manner, the election of a majority of the directors or trustees of the bank or trust company; or
(c) has the power to direct the management or policies of the bank or trust company.
History:L. 1973, ch. 49, 2; L. 2015, ch. 38, 96; July 1.



Date Composed: 12/03/2015 Date Modified: 12/04/2015

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