Kansas Statutes Annotated
Updated Through the 2015 Legislative Session

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Statute Number:9-909
Chapter Title:BANKS AND BANKING; TRUST COMPANIES
Article Title:BANKING CODE; CAPITAL STOCK AND STRUCTURE
Tax Type:Privilege
Brief Description:Preferred stock; rights and immunities of holders.
Keywords:


Body:

9-909.Preferred stock; rights and immunities of holders.The holders of preferred stock shall not be liable for assessments to restore any impairment in the capital stock of a bank or trust company.
No dividends shall be declared or paid on common stock until all cumulative dividends, if any, on the preferred stock shall have been paid. If the bank or trust company is dissolved or placed in liquidation no payments shall be made to the holders of common stock until the holders of the preferred stock are first paid in full for any sums due upon the preferred stock.
History:L. 1947, ch. 102, 22; L. 1975, ch. 44, 10; L. 1989, ch. 48, 21; L. 1993, ch. 14, 1; L. 2015, ch. 38, 40; July 1.



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

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