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Current as of January 01, 2025 | Updated by Findlaw Staff
For the purposes of K.S.A. 9-1601 through 9-1611, and amendments thereto, any company has control over a bank or trust company if the company directly or indirectly, or acting through one or more persons:
(a) Owns, controls or has power to vote 25% or more of any class of voting securities of the bank or trust company;
(b) controls, in any manner, the election of a majority of the directors or trustees of the bank or trust company; or
(c) has the power to direct the management or policies of the bank or trust company.
Cite this article: FindLaw.com - Kansas Statutes Chapter 9. Banks and Banking; Trust Companies § 9-1612. Company having control over a bank or trust company defined - last updated January 01, 2025 | https://codes.findlaw.com/ks/chapter-9-banks-and-banking-trust-companies/ks-st-sect-9-1612/
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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