Kansas Statutes Annotated
Updated Through the 2015 Legislative Session

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Statute Number:9-1107
Chapter Title:BANKS AND BANKING; TRUST COMPANIES
Article Title:BANKING CODE; POWERS
Tax Type:Privilege
Brief Description:Temporary borrowing by bank; limitation; exceptions.
Keywords:


Body:

9-1107.Temporary borrowing by bank; limitation; exceptions.(a) Any bank may borrow an amount not to exceed 100% of the bank's capital stock and surplus for temporary purposes. The commissioner may authorize borrowing in excess of such limitation.
(b) Any bank may borrow without limitation upon legal investment securities and rediscount and endorse in good faith any of the bank's negotiable notes without limitation.
(c) Any bank may borrow without limitation for purposes of investing in bonds issued pursuant to K.S.A.12-5219et seq., and amendments thereto.
History:L. 1947, ch. 102, 36; L. 1975, ch. 44, 15; L. 1981, ch. 51, 1; L. 2015, ch. 38, 48; July 1.



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

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