Kansas Statutes Annotated
Updated Through the 2016 Legislative Session

Previous
Statute Number:9-1910
Chapter Title:BANKS AND BANKING; TRUST COMPANIES
Article Title:BANKING CODE; DISSOLUTION; INSOLVENCY
Tax Type:Privilege
Brief Description:Surrender control to commissioner.
Keywords:


Body:

9-1910.Surrender control to commissioner.Upon the affirmative vote of2/3of the outstanding voting stock, the shareholders of a bank or trust company may transfer all of the bank’s or trust company’s assets and property of whatever nature and any rights thereto to the possession and control of the commissioner and waive any right to the Kansas administrative procedure act, the Kansas judicial review act or any other lawful right to challenge the commissioner’s authority without the execution of any instruments of assignment, endorsement, transfer or conveyance. Such action shall operate as a bar to any attachment proceedings.
History:L. 1947, ch. 102, 118; L. 2015, ch. 38, 125; L. 2016, ch. 54, 58; July 1.



Date Composed: 11/10/2016 Date Modified: 11/14/2016

Previous