Kansas § 9-1112 Unlawful transactions

Kansas Statutes

§ 9-1112 — Unlawful transactions

Kansas § 9-1112

Ch. 9BANKS AND BANKING; TRUST COMPANIES

Art. 11BANKING CODE; POWERS

This text of Kansas § 9-1112 (Unlawful transactions) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 9-1112 (2026).

Text

(a)No bank or trust company shall buy, sell or trade tangible property as a business or invest in the stock of another bank or corporation, except as specifically authorized.

(b)Unless prior approval of the commissioner is granted, no bank or trust company shall sell, give or purchase any instrument, contract, security or other asset or asset dividend to or from:

(1)Any employee or to an employee's related interest;

(2)any director or to a director's related interest;

(3)the parent company; or

(4)a subsidiary of the parent company. This paragraph shall not apply to assignment of loans and related security agreements to or from a subsidiary of the bank's parent company.

(c)No bank shall acquire or make a loan on the bank's own shares of stock, or the stock of the bank's parent compan

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(a) No bank or trust company shall buy, sell or trade tangible property as a business or invest in the stock of another bank or corporation, except as specifically authorized.
(b) Unless prior approval of the commissioner is granted, no bank or trust company shall sell, give or purchase any instrument, contract, security or other asset or asset dividend to or from:
(1) Any employee or to an employee's related interest;
(2) any director or to a director's related interest;
(3) the parent company; or
(4) a subsidiary of the parent company.
This paragraph shall not apply to assignment of loans and related security agreements to or from a subsidiary of the bank's parent company.
(c) No bank shall acquire or make a loan on the bank's own shares of stock, or the stock of the bank's parent company or a subsidiary of the bank's parent company, except as otherwise specifically authorized.
(d) No bank shall give any preference to any depositor either by pledging any of the bank's assets as collateral security or in any other manner, except:
(1) As provided under the provisions of K.S.A. 9-1603, and amendments thereto; and
(2) the deposit of public moneys and funds in the custody of the federal court or any of the court's officers may be secured as elsewhere provided in the state banking code or as required by the federal court.

Legislative History

L. 1947, ch. 102, § 41; L. 1975, ch. 44, § 18; L. 1981, ch. 52, § 1; L. 1985, ch. 56, § 3; L. 1988, ch. 61, § 3; L. 1990, ch. 59, § 1; L. 1993, ch. 31, § 3; L. 2001, ch. 36, § 1; L. 2015, ch. 38, § 51; L. 2016, ch. 54, § 25; July 1.