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Kansas Statutes Chapter 9. Banks and Banking; Trust Companies § 9-576. Report required upon occurrence of certain administrative or legal proceedings

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) A licensee shall file a report with the commissioner within one business day after the licensee has reason to know of the:

(1) Filing of a bankruptcy or reorganization petition by or against the licensee;

(2) filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for the licensee's dissolution or reorganization or the making of a general assignment for the benefit of the licensee's creditors; or

(3) commencement of a proceeding to revoke or suspend the licensee's license in a state or country where the licensee engages in business or is licensed.

(b) A licensee shall file a report with the commissioner within three business days after the licensee has reason to know of a felony conviction of:

(1) The licensee or a key individual or person in control of the licensee; or

(2) an authorized delegate.

(c) This section shall take effect on and after January 1, 2025.

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Cite this article: FindLaw.com - Kansas Statutes Chapter 9. Banks and Banking; Trust Companies § 9-576. Report required upon occurrence of certain administrative or legal proceedings - last updated January 01, 2025 | https://codes.findlaw.com/ks/chapter-9-banks-and-banking-trust-companies/ks-st-sect-9-576/

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