Kansas Statutes Annotated
Updated Through the 2015 Legislative Session

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Statute Number:9-1716
Chapter Title:BANKS AND BANKING; TRUST COMPANIES
Article Title:BANKING CODE; SUPERVISION; COMMISSIONER
Tax Type:Privilege
Brief Description:Powers of commissioner; order restricting declaration and payment of
dividends.
Keywords:


Body:

9-1716.Powers of commissioner; order restricting declaration and payment of dividends.If the commissioner shall determine that the condition of any bank is such that dividends should not be declared and paid from capital or that such dividends should be declared and paid only subject to certain conditions, the commissioner shall render an order prohibiting or limiting the declaration and payment of dividends. Upon receiving notice of the order, the bank shall have the right to a hearing to be conducted in accordance with the Kansas administrative procedure act. Any final order of the commissioner pursuant to this section is subject to review in accordance with the Kansas judicial review act.
History:L. 1975, ch. 44, 2; L. 1988, ch. 356, 41; L. 2015, ch. 38, 107; July 1.



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

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