Kansas Statutes Annotated
Updated Through the 2015 Legislative Session

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Statute Number:9-1709
Chapter Title:BANKS AND BANKING; TRUST COMPANIES
Article Title:BANKING CODE; SUPERVISION; COMMISSIONER
Tax Type:Privilege
Brief Description:Failure to respond to a lawful request of the commissioner.
Keywords:


Body:

9-1709.Failure to respond to a lawful request of the commissioner.(a) No bank or trust company shall refuse or neglect for more than 60 days to comply with or respond to a written, lawful request of the commissioner. If the bank or trust company does not comply with or respond to any such request, the commissioner may issue an order notifying the bank or trust company that continued failure to comply with the request shall result in the forfeiture of the authority to transact business. Any bank or trust company receiving notice of such order shall have the right to a hearing to be conducted in accordance with the Kansas administrative procedure act. Any final order of the commissioner is subject to review in accordance with the Kansas judicial review act.
(b) If any request or requirement made pursuant to an order issued under subsection (a) remains unsatisfied after a period of time as provided in the order, the commissioner shall appoint a receiver pursuant to article 19 of chapter 9 of the Kansas Statutes Annotated, and amendments thereto. The order appointing the receiver shall not be subject to the Kansas administrative procedure act or the Kansas judicial review act.
(c) The commissioner may take such additional action as available pursuant to K.S.A.9-1714,9-1805,9-1807or9-1809, and amendments thereto, to protect the depositors and creditors of the bank or trust company.
History:L. 1947, ch. 102, 96; L. 1981, ch. 324, 7; L. 2015, ch. 38, 102; July 1.



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

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