Copy

Dear Kansas Bankers and Trust Providers,

During the 2015 legislative session, the Kansas legislature passed and the Governor signed into law Senate Bill 240, a bill that modernizes and recodifies the Kansas Banking Code.  Included were a number of changes to statutes pertaining to application procedures.  All changes were effective July 1, 2015.  Substantial changes include: 
 

  • The process for filing an application for a new bank or new trust company is now contained in one article: Article 8, K.S.A. 9-801 to 9-806.  Also, the minimum capital required when chartering a new bank or trust company has increased.  Pursuant to K.S.A. 9-901a, beginning capital for a new bank is the greater of $3,000,000 or an amount equal to 8% of estimated deposits five years after the bank’s organization.  Capital required for a new trust company is $500,000. 
  • In the past, procedures for processing applications for banks and trust companies considered “eligible” were different than those for “non-eligible” entities. This distinction has been eliminated.  As a result, decisions on these types of applications are now all made by the commissioner.
  • In cases which involve a branch relocating less than one mile from the existing office, the commissioner now has the authority to grant an exemption from filing requirements.
  • Various statutes pertaining to application documentation and review procedures have been reorganized, and outdated and antiquated language has been eliminated. 
Application forms have been revised and updated to reflect statute changes and filing procedures.  Additionally, several changes have been made to publication requirements.  Updated application forms and publication notices are available at http://www.osbckansas.org/banking/applications.html 
 
K.S.A. 9-1726 now sets application fees.  The application fees for establishing or relocating a branch bank and relocating the main office of a bank have been lowered to $750.  Until further notice, the commissioner is waiving fees for name changes, conversions, and trust authority pursuant to subsection (c) of the statute. Fees for other types of applications remain the same.  
If you have questions about these changes, the application process, or application forms, please contact Director of Corporate Activities Dana Hampton at dana.hampton@osbckansas.org or 785-296-1450.
 

Respectfully,
 
Judi Stork
Deputy Bank Commissioner

Copyright © 2015 Office of the State Bank Commissioner, All rights reserved.
 
unsubscribe from this list    
update subscription preferences 

Email Marketing Powered by Mailchimp