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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) No bank shall establish or maintain a branch in this state on the premises or property of an affiliate if the affiliate engages in commercial activities.
(b) As used in this section:
(1) “Affiliate” means any company that controls, is controlled by, or is under common control with another company.
(2) “Bank” shall have the meaning stated in 12 U.S.C. § 1813(a)(1).
(3) “Branch” means any office, other than the place of business specified in the bank's certificate of authority, at which deposits are received, checks paid, money lent or trust authority exercised, if approval has been granted by the appropriate federal or state supervisory agency.
(4) “Commercial activities” means activities in which a bank holding company, a financial holding company, a national bank or a national bank financial subsidiary may not engage under federal or state law.
(5) “Control” means the power directly or indirectly to direct the management or policies of a bank or to vote 25% or more of any class of voting shares of a bank.
Cite this article: FindLaw.com - Kansas Statutes Chapter 9. Banks and Banking; Trust Companies § 9-1140. Prohibiting branch banks in certain locations - last updated January 01, 2025 | https://codes.findlaw.com/ks/chapter-9-banks-and-banking-trust-companies/ks-st-sect-9-1140/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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