Session Law

Identifying Information:L. 2001 ch. 035
Other Identifying Information:2001 House Bill 2149
Tax Type:Other
Brief Description:An Act relating to the state bank commissioner; providing for the sharing of certain information with agencies; amending K.S.A. 2000 Supp. 9-1303 and repealing the existing section.
Keywords:


Body:

CHAPTER 35

HOUSE BILL No. 2149


An Act relating to the state bank commissioner; providing for the sharing of certain infor-

mation with agencies; amending K.S.A. 2000 Supp. 9-1303 and repealing the existing section.




Be it enacted by the Legislature of the State of Kansas:

Section 1. K.S.A. 2000 Supp. 9-1303 is hereby amended to read as

follows: 9-1303. (a) The state bank commissioner is hereby authorized to

accept any report of examination of a state bank or trust company made

within a reasonable period by the federal deposit insurance corporation

or its successor, by the federal reserve bank or by the certified public

accountant or independent auditor auditing the accounts of any bank or

trust company insured by a private insurer, as authorized under the pro-

visions of this act, but only one such report of examination shall be ac-

cepted in lieu of any examination required by this act in any one calendar

year. The commissioner also may accept any report obtained by the in-

surance corporation, the federal reserve bank or private insurer within a

reasonable time relative to the condition of any bank or trust company in

lieu of any report required by this act.

(b) The commissioner shall furnish to the insurance corporation or

private insurer, or to any officer or examiner thereof, a copy of any or all

examination reports made by the commissioner, or the commissioner's

examiners, of any bank or trust company insured by the corporation or

insurer, and any or all reports made to the commissioner by any bank or

trust company insured by such corporation or insurer. The commissioner

may disclose to the insurance corporation or private insurer, or any official

or examiner thereof, any and all information contained in the commis-

sioner's office concerning the condition of affairs of any bank or trust

company insured by such corporation or insurer.

The commissioner may furnish to the federal reserve bank, office of

the comptroller of currency, the federal home loan bank, and other state

bank regulatory agencies and savings and loan regulatory agencies or any

officer or examiner thereof, a copy of any or all examination reports made

by the commissioner, or the commissioner's examiners of any bank or

trust company which is a member or nonmember of the federal reserve

system and any or all reports made to the commissioner by any bank or

trust company which is a member of the federal reserve system.

(c) The commissioner may disclose to the federal reserve bank, office

of the comptroller of currency, the federal home loan bank, and other

state bank regulatory agencies and savings and loan regulatory agencies

or any officer or examiner thereof, any and all information contained in

the commissioner's office concerning the condition of affairs of any bank

or trust company which is a member or nonmember of the federal reserve

system.

(d) The commissioner may furnish to the state treasurer a copy of

any or all examination information relating specifically to apparent vio-

lations of the uniform unclaimed property act, K.S.A. 58-3934 through

58-3978, and amendments thereto.

(e) The commissioner, by agreement, may establish an information

sharing and exchange program with a functional regulatory agency that

has overlapping regulatory jurisdiction with the department, with respect

to all or part of an affiliated group that includes a financial institution, to

reduce the potential for duplicative and burdensome filings, examinations

and other regulatory activities. Each agency party to such an agreement

shall agree to maintain confidentiality of information that is confidential

under applicable statute or federal law and to take all reasonable steps to

oppose any effort to secure disclosure of the information by such agency.

(f) Disclosure of information by or to the commissioner pursuant to

this section shall not constitute a waiver of or otherwise affect or diminish

a privilege to which the information is otherwise subject, whether or not

the disclosure is governed by a confidentiality agreement.

(g) As used in this section: (1) ``Affiliated group'' means two or more

persons affiliated through common ownership or a contractual common

undertaking involving the sharing of customer information among such

persons;

(2) ``agency'' means a department or agency of this state, another

state, the United States or any related agency or instrumentality;

(3) ``functional regulatory agency'' means an agency that regulates

and charters, licenses or registers persons engaged in activities that are

financial in nature, incidental to financial activities, or complementary to

financial activities, as those terms are used in the Gramm-Leach Bliley

act of 1999 (P.L. 106-102), including activities related to banking, insur-

ance or securities, within the jurisdiction of the agency;

(4) ``privilege'' includes any work product, attorney client or other

privilege recognized under federal or state law.

(h) Nothing in this act shall be construed to limit the powers of the

commissioner with reference to examinations and reports required by this

act.

Sec. 2. K.S.A. 2000 Supp. 9-1303 is hereby repealed.

Sec. 3. This act shall take effect and be in force from and after its

publication in the statute book.

Approved March 21, 2000.


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Date Composed: 09/25/2001 Date Modified: 09/25/2001